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Correction, 6/20/14, 2:27 p.m. EST: Due to an editing error, The Am Law Daily misidentified the headquarters of Measurement Specialties Inc. The company is based in Hampton, Va. while TE Connectivity is based in Switzerland. The fourth paragraph of this story has been updated accordingly. We regret the error.

TE Connectivity Ltd. on Wednesday said it would acquire Measurement Specialties Inc. in a $1.7 billion deal that is expected to enhance the sensor products of the newly combined company.

TE Connectivity will pay $86 in cash for each share of Hampton, Va.-based Measurement Specialties, representing a 10.26 percent premium over the target’s Wednesday closing price. The deal’s total purchase price includes the assumption of Measurement Specialties debt.

TE Connectivity sought legal counsel from Davis Polk & Wardwell on the transaction while Measurement Specialties turned to DLA Piper. The deal is expected to close this year, pending approval by regulators and Measurement Specialties’ shareholders.

Measurement Specialties designs and manufactures sensors to measure a variety of physical characteristics, including temperature and pressure. While Switzerland-based TE Connectivity also produces sensors, it is better known for producing electrical components—such as connectors and fiber optics—for various industries.

In an investor presentation on Wednesday, TE Connectivity said that of the $13.3 billion in revenue it earned in fiscal year 2013, $10 billion came from connector sales, while its sensor business generates $200 million in annual revenue. Acquiring Measurement Specialties, which expects to pull in $540 million in revenue this fiscal year, would likely quadruple the size of the company’s sensor business.

In addition, the Swiss company said it would be able to assume a leadership role in what it characterized as a “fragmented, large and high-growth” sensor market by increasing the company’s product offerings in sensors and connective products while growing its sensor market by $40 billion.

For its part, Measurement Specialties would likely benefit from an expanded reach of its products and technology. TE Connectivity sells products in over 150 countries, which is more than twice the number of countries—65—that Measurement Specialties is currently in.

“The sensor market is quite strong, with both the number of applications and the content per unit increasing every year,” said Frank Guidone, CEO of Measurement Specialties, in a statement. “We are excited to expand our product offerings to customers around the world through TE’s unparalleled go-to-market capabilities.”

For legal advice, TE Connectivity tapped Davis Polk. The firm’s New York-based team working on the deal includes antitrust partner Arthur Burke and counsel Stephen Pepper, corporate partner William Aaronson, executive compensation partner Jeffrey Crandall, counsel Ron Aizen and environmental counsel Hayden Baker. Associates Francesca Campbell, Pritesh Shah, Jansen Thurmer and Brian Wolfe were also involved in the deal.

TE Connectivity has turned to Davis Polk on a number of previous transactions, including its $1.25 billion purchase of ADC Telecommunications in 2010 and its $2.06 billion purchase of heavy-duty electrical connectors manufacturer Deutsch Group in 2011.

Measurement Specialties looked to DLA Piper for legal advice. The deal team includes antitrust partner Paolo Morante, benefits partner Julia Kovacs, corporate partners Joe Alexander, Dan Rollman and Jay Smith, and regulatory partner Sarah Kahn.

DLA represented Measurement Specialties in a $114.5 million acquisition of fuel sensor company Wema System, announced last week.