On April 5, 2016, MTS Systems Corporation and Nickel Merger Sub Inc., a newly formed wholly-owned subsidiary of the Company (Merger Sub), entered into an Agreement and Plan of Merger by and among the Company, Merger Sub, PCB Group Inc. (PCB), and David T. Hore, John A. Lally and David M. Lally as representatives of the shareholders of PCB. The Merger Agreement provides for the merger of Merger Sub with and into PCB, with PCB surviving the Merger as a wholly-owned subsidiary of the Company. Following the closing of the Merger, John V. Emholz, Senior Vice President, Sensors, will be transitioning out of the Company.