Texas Instruments spin-off files for $500 million IPO

Although the parent company is registered in The Netherlands, the company is operationally based in Attleboro, Mass. Sensata operated as a part of Texas Instruments from 1959 until 2006 when it was acquired by private equity company Bain Capital. The company expanded through the acquisition of First Technology Automotive and Special Products in December 2006 and the acquisition of Airpax Holdings Inc. in July 2007.

The company said the money would be used for general corporate purposes, to pay fees to the "sponsors" of the IPO — which means Bain Capital — and to repay a portion of debt. The prospectus points out that Sensata has $2.4 billion of debt.

Sensata is proposing that its stock is traded on the New York Stock Exchange and in the prospectus reports a net loss of $41 million on revenue of $797 million in the first nine months of 2009.

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