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Smiths Group sells its Interconnect division to Molex for £1.3 billion to refocus on core units and return funds to investors.
Smiths Group has agreed to sell its Smiths Interconnect division to U.S. firm Molex for £1.3 billion in cash, with the deal expected to close in the second half of 2026.
The move, driven by shareholder pressure and a strategic shift, aims to refocus the company on its core industrial engineering units, John Crane and Flex-Tek.
Proceeds will support a £500 million share buyback program and return significant funds to investors.
Smiths Interconnect, which reported £86.1 million in underlying earnings for 2024–2025, operates globally in aerospace, energy, automotive, and semiconductor sectors.
The company is also considering spinning off its Smiths Detection unit.
Smiths Group vende su división Interconnect a Molex por 1.300 millones de libras para volver a centrarse en las unidades principales y devolver los fondos a los inversores.