Molex Inc , a maker of which makes electronic, electrical and fiber optic interconnection systems, said privately owned Koch Industries will buy it for about $7.2 billion.

The deal for $38.50 per share in cash represents a 42 percent premium on average to the Friday closing prices of Molex's two classes of publicly traded shares, the company said.

(Reporting by Bijoy Koyitty in Bangalore; Editing by Maju Samuel)