This past year, Knowles took bold strides in our journey to become an industrial technology company dedicated to providing customers with the high-performance parts required for their most demanding applications.
We have redefined what it means to help our customers innovate at the crossroads of engineering, manufacturing, and technological advancement. Through our deep engineering expertise, we deliver high-performance technology designed to meet even the most stringent requirements in extremely demanding applications.
We are here to serve as an enabler of innovation as we work together with customers to develop products and solutions paramount to the creation and success of their own technological innovations. As we focus on supporting customers with demanding applications in growth markets such as MedTech, defense, and industrial, we want to be clear that our components are built to serve exceptional needs for niche applications. We are committed to delivering customization at scale as we have the agility of a smaller manufacturer with the resources of a larger one, allowing us to quickly scale production globally.
To support our transformation to a premier industrial technology company, in 2024 we took several strategic steps as a business. First, in late 2023, we acquired Cornell Dubilier (CD), adding a broad range of high-performance film, electrolytic, and mica capacitors to our extensive range of ceramic and thin film components. This past year, we prioritized integrating these products into our offerings, diversifying and expanding our portfolio of high-performance technology. With this expanded product offering, we are furthering our customer-centric approach to working on demanding emerging applications.
In September 2024, we entered into a definitive agreement to sell our consumer MEMS microphones (CMM) business to Syntiant Corp, closing the sale on December 27, 2024. This is also an important step in our evolution to becoming a premier industrial technology company as it allows us to deepen our focus on our growth markets: MedTech, defense, and industrial.
This year, we will continue to look at strategic acquisition opportunities and other tactics to continue to build on our foundation as an industrial technology company ready to deliver high-performance technology and customization at scale to enable innovation in demanding growth markets.
Want to learn more about our high-performance technology designed to meet your most stringent requirements in extremely demanding applications? Contact us today.