Löhne, Germany – 21 April 2026 – steute Technologies GmbH & Co. KG, a portfolio company of investment firm Battery Ventures, today announced that it has entered into a definitive agreement to acquire Electro-Sensors, Inc. (NASDAQ: ELSE), a leading manufacturer of industrial machine monitoring sensors and hazard monitoring systems, in a transaction valued at approximately
$28 million.
Under the terms of the agreement, steute Technologies will acquire all outstanding shares of Electro-Sensors, Inc. for $7.75 per share in cash, representing a premium of approximately 75% to Electro-Sensors’ closing share price on April 20, 2026.
steute, founded in 1961, specializes in the development and manufacture of high-quality switching devices, sensors, and wireless networks for complex medical and industrial applications.
“Electro-Sensors significantly enhances steute Technologies’ product and service offerings in the industrial market with an extensive, complementary line of solutions we feel will strengthen the value our customers gain from our products,” said Martin Kunz, steute’s CEO. “The acquisition dovetails with our strategy of delivering focused safety and monitoring solutions for the industrial market whilst expanding our manufacturing footprint in the USA.”
David Klenk, CEO of Electro-Sensors, said, “We strongly believe that this transaction is in the best interest of our shareholders and that becoming part of steute Technologies will be advantageous for the customers and employees of Electro-Sensors. Joining steute is an exciting opportunity to collaborate with an ambitious, focused group and create new opportunities for our business.”
“Electro-Sensors has built a strong reputation for reliable machine monitoring and hazard monitoring solutions in demanding industrial environments,” said Maximilian Jessen, a Battery Ventures investor involved with steute’s board. “Bringing those capabilities together with steute’s existing portfolio strengthens the combined group’s ability to serve customers with a broader set of safety and monitoring solutions.”
The boards of directors of both companies have unanimously approved the transaction. The acquisition is expected to close in the first half of 2026, subject to customary closing conditions, including approval by Electro-Sensors, Inc. shareholders and receipt of required regulatory approvals.
Upon completion of the transaction, Electro-Sensors, Inc. will operate as a wholly owned subsidiary of steute Technologies GmbH & Co. KG.
About steute
steute Technologies GmbH & Co. KG is a German-based international technology company, owned by Battery Ventures, that specializes in the development and manufacture of high-quality switching devices, sensors, and wireless networks for complex medical and industrial applications. Founded in 1961, the company is headquartered in Löhne, Germany, employing approximately 560 people globally, and is represented in over 40 countries through dedicated facilities, sales subsidiaries and partners.
For more information, visit www.steute.com
About Electro-Sensors, Inc.
Electro-Sensors, Inc. is an industry-leading designer and manufacturer of rugged and reliable machine monitoring sensors and wireless/wired hazard monitoring systems applied across multiple industries and applications. These products improve processes by protecting people, safeguarding systems, reducing downtime, and preventing waste. Founded in 1968 and located in Minnetonka, Minnesota, Electro- Sensors provides its loyal customers with reliable products that improve safety and help plants operate with greater efficiency, productivity, and control.
For more information, visit www.electro-sensors.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the proposed transaction, the expected timing of closing, anticipated benefits, synergies, and financial impact, and other statements that are not historical facts. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Factors that may cause such differences include, but are not limited to, regulatory approvals, the possibility that the transaction does not close, integration risks, market conditions, etc.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. steute Technologies GmbH & Co. KG and Electro-Sensors, Inc. undertake no obligation to update any forward-looking statements except as required by law.
Additional Information and Where to Find It
In connection with the proposed transaction, Electro-Sensors, Inc. will file relevant materials with the U.S. Securities and Exchange Commission (“SEC”), including a proxy statement. INVESTORS AND SECURITY HOLDERS OF ELECTRO-SENSORS, INC. ARE URGED TO READ THESE MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
These documents, when available, can be obtained free of charge at the SEC’s website at www.sec.gov, and from Electro-Sensors, Inc. website at www.electro-sensors.com.
Contacts
Media: For any further information, please contact
René Scherer (Marketing Director) at steute (r.scherer@steute.com).
Matthew Renfroe (Marketing Manager) at Electro-Sensors (mrenfroe@electro-sensors.com)