
The acquisitions, announced over just three months, strengthen steute&#39;s medical and industrial safety divisions and highlight Battery&#39;s increasing focus on applied technologies in the U.S. and Europe


Battery Ventures

<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">The acquisitions, announced over just three months, strengthen steute's medical and industrial safety divisions and highlight Battery's increasing focus on applied technologies in the U.S. and Europe</i>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Battery Ventures portfolio company steute Technologies continues to expand across its core markets, partly through three new acquisitions announced over the last three months.

</p><p xmlns="http://www.w3.org/1999/xhtml" id="news-body-cta">This press release features multimedia. View the full release here: <a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260504162596/en/" rel="nofollow">https://www.businesswire.com/news/home/20260504162596/en/</a></p><p xmlns="http://www.w3.org/1999/xhtml">
Taken together, the three transactions significantly broaden steute&#39;s global reach, engineering capabilities and product portfolio, positioning the company as an increasingly comprehensive partner for OEMs, distributors and end-users worldwide. Battery—a global investment firm with a growing focus on sensor, automation and other applied technologies—first invested in Lohne, Germany-based steute in 2024.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Steute is moving decisively to build scale across both of its core medical and industrial safety divisions. The new add-on acquisitions also add a U.S. manufacturing footprint to steute&#39;s existing platform of switching devices, sensors and wireless networks. Steute's medical products include devices that help precisely control critical medical equipment in operating rooms, among others; on the industrial side, steute's sensors and other technologies help improve safety and reliability in difficult manufacturing environments, including those that must withstand explosive or corrosive conditions and extreme temperatures.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The three new announced acquisitions are:

</p><ul xmlns="http://www.w3.org/1999/xhtml" class="bwlistdisc">
<li xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Oldelft Ultrasound (closed March 2026):</b> steute acquired Netherlands-based Oldelft Ultrasound, global leader in high-performance, miniaturized ultrasound transducers primarily used in cardiology applications, from investment firm Smile Invest. Founded in 1985 and operating from its headquarters and production facility in Delft with approximately 90 employees, Oldelft partners with globally recognized OEMs in the medical-imaging sector.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">KIEPE Industry (closed March 2026):</b> Düsseldorf-based KIEPE Industry, a specialist in industrial switching for the bulk-handling sector, was previously part of the KIEPE Electric Group. Since the late 1960s, KIEPE Industry has designed and manufactured electromechanical and electronic safety and monitoring devices for industries ranging from mining to agriculture. The acquisition bolsters steute&#39;s Controltec division with decades of application knowledge and a broad product range.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Electro-Sensors, Inc. (announced April 2026; pending close):</b> steute entered into a definitive agreement this month to acquire Electro-Sensors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ELSE">ELSE</a>), a U.S.-based manufacturer of industrial machine-monitoring sensors and hazard-monitoring systems. Founded in 1968 and headquartered in Minnetonka, Minnesota, Electro-Sensors serves customers across multiple industries with rugged and reliable monitoring products. The transaction, subject to customary closing conditions including shareholder and regulatory approvals, will further expand steute&#39;s industrial product and service offerings and establish a manufacturing presence in the United States.

</li>
</ul><p xmlns="http://www.w3.org/1999/xhtml">
&#34;This quick succession of acquisitions demonstrates the kind of focused, strategic growth we envisioned when we first partnered with steute,&#34; said Jesse Feldman, a Battery general partner and steute board member. &#34;Across medical technology and industrial safety, steute is assembling a powerful platform of differentiated, mission-critical sensing and control products."

</p><p xmlns="http://www.w3.org/1999/xhtml">
"We still see significant opportunity to expand the group&#39;s global market reach and pursue additional complementary acquisitions," added Maximilian Jessen, a Battery Ventures investor also active with steute&#39;s board.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Battery is continuing to expand its investment activity in the applied technology markets and has completed more than 90 such transactions across North America and Europe since 2003.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About steute Technologies</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
steute Technologies 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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Battery Ventures</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure/AI, and industrial technology and life-science tools. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv. Follow the firm on X @BatteryVentures, visit our website at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.battery.com&amp;esheet=54527979&amp;newsitemid=20260504162596&amp;lan=en-US&amp;anchor=www.battery.com&amp;index=1&amp;md5=674c20d64ec89d7557e8a41d22c89084" shape="rect">www.battery.com</a> and find a full list of Battery&#39;s portfolio companies <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.battery.com%2Flist-of-all-companies%2F&amp;esheet=54527979&amp;newsitemid=20260504162596&amp;lan=en-US&amp;anchor=here&amp;index=2&amp;md5=78b1a62164357de33e82d1b89b1e52e1" shape="rect">here</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260504162596r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260504162596/en/" rel="nofollow">https://www.businesswire.com/news/home/20260504162596/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Rebecca Buckman
<br xmlns="http://www.w3.org/1999/xhtml"></br>Marketing Partner
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:becky@battery.com" shape="rect">becky@battery.com 
</a><br xmlns="http://www.w3.org/1999/xhtml"></br>650-292-2077

</p>

ELSE

Battery Ventures-Backed steute Technologies Announces Three New Acquisitions to Expand its Global Platform Across Medical and Industrial Applications

steute Technologies Expands Market Reach through Strategic Acquisitions

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>The acquisitions, announced over just three months, strengthen steute&amp;#39;s medical and industrial safety divisions and highlight Battery&amp;#39;s increasing focus on applied technologies in the U.S. and Europe


Battery Ventures</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>steute Technologies, backed by Battery Ventures, has announced three strategic acquisitions aimed at enhancing its medical and industrial safety divisions. The acquisition of Electro-Sensors, Inc. further establishes a U.S. manufacturing presence, potentially increasing revenues in a growing sector.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>steute Technologies makes three acquisitions to boost medical and industrial divisions.</li><li>Electro-Sensors, Inc. acquisition aims to enhance U.S. manufacturing footprint.</li><li>Steute is positioned as a key partner in sensor and control technologies.</li><li>Recent acquisitions expand steute&#039;s global reach and product offerings.</li><li>Battery Ventures continues to invest heavily in applied technologies.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Battery Ventures (N/A)</strong>: Investment firm backing steute with focus on applied technologies.</li><li><strong>steute Technologies (N/A)</strong>: Parent company of ELSE; expanding through recent acquisitions.</li><li><strong>Oldelft Ultrasound (N/A)</strong>: Strengthens medical device offerings post-acquisition.</li><li><strong>KIEPE Industry (N/A)</strong>: Adds industry-specific expertise to steute&#039;s portfolio.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This development fits into &#039;Corporate Developments&#039; as it involves strategic acquisitions aimed at strengthening the company&#039;s market position. With the increasing focus on applied technologies, these acquisitions could significantly impact ELSE&#039;s future revenue and market competitiveness.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The acquisition of Electro-Sensors, Inc. could increase ELSE&#039;s revenue streams.</li><li>Strengthened position in the industrial safety market may attract more clients.</li><li>Increased manufacturing capabilities could lead to improved margins for ELSE.</li><li>Broader product offerings may enhance competitiveness against rivals.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>steute Technologies is acquiring Electro-Sensors, Inc. based in Minnetonka, MN.</li><li>Electro-Sensors, Inc. specializes in industrial monitoring sensors since 1968.</li><li>Acquisitions improve steute&#039;s U.S. manufacturing footprint and market presence.</li><li>steute aims to build scale across medical and industrial safety sectors.</li><li>Battery Ventures has completed over 90 transactions since 2003.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Invest in ELSE for potential price appreciation following the acquisition news within the next quarter.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">The acquisitions, announced over just three months, strengthen steute's medical and industrial safety divisions and highlight Battery's increasing focus on applied technologies in the U.S. and Europe</i>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Battery Ventures portfolio company steute Technologies continues to expand across its core markets, partly through three new acquisitions announced over the last three months.

</p><p xmlns="http://www.w3.org/1999/xhtml" id="news-body-cta">This press release features multimedia. View the full release here: <a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260504162596/en/" rel="nofollow">https://www.businesswire.com/news/home/20260504162596/en/</a></p><p xmlns="http://www.w3.org/1999/xhtml">
Taken together, the three transactions significantly broaden steute&#39;s global reach, engineering capabilities and product portfolio, positioning the company as an increasingly comprehensive partner for OEMs, distributors and end-users worldwide. Battery—a global investment firm with a growing focus on sensor, automation and other applied technologies—first invested in Lohne, Germany-based steute in 2024.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Steute is moving decisively to build scale across both of its core medical and industrial safety divisions. The new add-on acquisitions also add a U.S. manufacturing footprint to steute&#39;s existing platform of switching devices, sensors and wireless networks. Steute's medical products include devices that help precisely control critical medical equipment in operating rooms, among others; on the industrial side, steute's sensors and other technologies help improve safety and reliability in difficult manufacturing environments, including those that must withstand explosive or corrosive conditions and extreme temperatures.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The three new announced acquisitions are:

</p><ul xmlns="http://www.w3.org/1999/xhtml" class="bwlistdisc">
<li xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Oldelft Ultrasound (closed March 2026):</b> steute acquired Netherlands-based Oldelft Ultrasound, global leader in high-performance, miniaturized ultrasound transducers primarily used in cardiology applications, from investment firm Smile Invest. Founded in 1985 and operating from its headquarters and production facility in Delft with approximately 90 employees, Oldelft partners with globally recognized OEMs in the medical-imaging sector.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">KIEPE Industry (closed March 2026):</b> Düsseldorf-based KIEPE Industry, a specialist in industrial switching for the bulk-handling sector, was previously part of the KIEPE Electric Group. Since the late 1960s, KIEPE Industry has designed and manufactured electromechanical and electronic safety and monitoring devices for industries ranging from mining to agriculture. The acquisition bolsters steute&#39;s Controltec division with decades of application knowledge and a broad product range.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Electro-Sensors, Inc. (announced April 2026; pending close):</b> steute entered into a definitive agreement this month to acquire Electro-Sensors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ELSE">ELSE</a>), a U.S.-based manufacturer of industrial machine-monitoring sensors and hazard-monitoring systems. Founded in 1968 and headquartered in Minnetonka, Minnesota, Electro-Sensors serves customers across multiple industries with rugged and reliable monitoring products. The transaction, subject to customary closing conditions including shareholder and regulatory approvals, will further expand steute&#39;s industrial product and service offerings and establish a manufacturing presence in the United States.

</li>
</ul><p xmlns="http://www.w3.org/1999/xhtml">
&#34;This quick succession of acquisitions demonstrates the kind of focused, strategic growth we envisioned when we first partnered with steute,&#34; said Jesse Feldman, a Battery general partner and steute board member. &#34;Across medical technology and industrial safety, steute is assembling a powerful platform of differentiated, mission-critical sensing and control products."

</p><p xmlns="http://www.w3.org/1999/xhtml">
"We still see significant opportunity to expand the group&#39;s global market reach and pursue additional complementary acquisitions," added Maximilian Jessen, a Battery Ventures investor also active with steute&#39;s board.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Battery is continuing to expand its investment activity in the applied technology markets and has completed more than 90 such transactions across North America and Europe since 2003.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About steute Technologies</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
steute Technologies 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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Battery Ventures</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure/AI, and industrial technology and life-science tools. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv. Follow the firm on X @BatteryVentures, visit our website at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.battery.com&amp;esheet=54527979&amp;newsitemid=20260504162596&amp;lan=en-US&amp;anchor=www.battery.com&amp;index=1&amp;md5=674c20d64ec89d7557e8a41d22c89084" shape="rect">www.battery.com</a> and find a full list of Battery&#39;s portfolio companies <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.battery.com%2Flist-of-all-companies%2F&amp;esheet=54527979&amp;newsitemid=20260504162596&amp;lan=en-US&amp;anchor=here&amp;index=2&amp;md5=78b1a62164357de33e82d1b89b1e52e1" shape="rect">here</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260504162596r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260504162596/en/" rel="nofollow">https://www.businesswire.com/news/home/20260504162596/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Rebecca Buckman
<br xmlns="http://www.w3.org/1999/xhtml"></br>Marketing Partner
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:becky@battery.com" shape="rect">becky@battery.com 
</a><br xmlns="http://www.w3.org/1999/xhtml"></br>650-292-2077

</p>

steute Technologies, backed by Battery Ventures, has announced three strategic acquisitions aimed at enhancing its medical and industrial safety divisions. The acquisition of Electro-Sensors, Inc. further establishes a U.S. manufacturing presence, potentially increasing revenues in a growing sector.

Battery Ventures-Backed steute Technologies Announces Three New Acquisitions to Expand its Global Platform Across Medical and Industrial Applications

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News