TTM Technologies said on 17 June it would acquire Swiss Technology Group, headquartered in Zurich, and ILFA, headquartered in Hannover, in two all-cash deals that give it a manufacturing presence in Europe for the first time.
Why TTM Technologies, Inc. is buying Swiss Technology Group AG and ILFA GmbH
TTM said the acquisitions add long-cycle businesses with strategic technology to its portfolio and diversify it by product and geography. STG's miniaturised circuits go into surgical robots, hearing aids, medical imaging and implants; ILFA adds electro-optical PCBs, embedded components, fluid-channel integration and CAD services.
“these smaller but meaningful acquisitions establish our initial footprint in the important European market”
Deal terms and financing
The deals are for all-cash consideration; prices were not disclosed. TTM expects them to be immediately, if modestly, accretive excluding purchase accounting effects.
Regulatory approvals and timing
Both transactions are subject to regulatory approvals and were expected to close in the third quarter of 2026.
Market context
STG was created in 2023 by merging GS Swiss, which makes microcircuits for neurostimulators, leadless pacemakers and cochlear implants, with coating specialist Hofstetter. ILFA has a 45-year history in complex PCBs for aerospace and defence.
