Methode Electronics Acquires Stratos

Connector specialist Methode Electronics Inc. has acquired UK-based Stratos Ltd. (formerly AB Stratos Ltd.) in a cash-for-stock deal worth approximately $4 million. Stratos will be managed as a separate business unit, and will continue to operate under the name of Stratos Ltd., helmed by the executive team of Richard Durrant, Managing Director, and Christopher Warnes, Director of Engineering and Operations of Methode Fiber Optics Europe Ltd.

Stratos manufactures fiber optic connectivity products for harsh environments. Although it is located near to UK-based Methode Fiber Optics Europe, plans call for continuing operations at the Stratos production facility. According company chairman William McGinley, the product lines of the two companies differ significantly. "The Stratos product is primarily oriented to military and undersea long lines where temperature and pressure extremes must be tolerated," he says. "Methode's position has been primarily in networking where ease of installation, cost and miniaturization are the principal considerations for the premise wiring marketplace."