MTS Systems Corp. (Nasdaq: MTSC) has agreed to purchase PCB Group Inc. for $580 million, as both companies look to expand their product and customer reach. MTS will fund the acquisition with equity and debt.

PCB, based in Depew , New York, and founded in 1967, makes sensors that are used to measure force, pressure and vibration for the automotive, aerospace and energy industries. PCB will combine with MTS’ sensor division that will be led by PCB president David Hore. The combined company will have 2016 pro-forma revenue of about $785 million.

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