Pepperl+Fuchs has signed an agreement to acquire Siemens’ binary proximity sensor business. The acquisition is expected to be finalized by June 30, 2010.

Siemens will continue to accept, support, and execute all orders for Siemens proximity sensors until the transfer is complete. The interim period will be used to integrate the new business and products into Pepperl+Fuchs’ existing portfolio, while providing uninterrupted service and delivery capacity for Siemens proximity sensor customers.

“We are delighted with the acquisition and the opportunity to benefit from the broad technological spectrum, highly qualified personnel, and strong market position of Siemens, particularly in the field of ultrasonic sensors,” says Dr. Gunther Kegel, CEO of Pepperl+Fuchs.