AMETEK Completes Acquisition of Abaco Systems
04/29/2021 - 08:00 AM
BERWYN, Pa. , April 29, 2021 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced that it has completed its acquisition of Abaco Systems, Inc., a leading provider of mission critical embedded computing systems in an all-cash transaction valued at $1.35 billion .
"We are excited to welcome Abaco to AMETEK," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Abaco's market leading computing and electronic solutions nicely complement our existing aerospace and defense businesses, expanding our positions across many attractive growth platforms."
With annual sales of approximately $325 million , Abaco joins AMETEK as part of its Electronic Instruments Group (EIG) - a leader in advanced analytical, monitoring, testing, calibrating and display instruments.
Corporate Profile AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annual sales in 2020 of more than $4.5 billion . The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500.
Contact: AMETEK, Inc.Kevin Coleman Vice President, Investor Relations 1100 Cassatt RoadBerwyn, Pennsylvania 19312kevin.coleman@ametek.com Phone: 610.889.5247
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SOURCE AMETEK, Inc.
AME Rankings
#1452 Ranked by Stock Gains
AME Stock Data
Industry
Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables
Sector
Manufacturing
Tags
Producer Manufacturing, Miscellaneous Manufacturing, Electrical Products, Manufacturing, Motor and Generator Manufacturing
Country
US
City
Berwyn
About AME
ametek is a global leader in electronic instruments and electromechanical devices with annual sales of $4.0b. we have approximately 15,000 colleagues at over 120 manufacturing locations with 100 sales and service locations in more than 30 other countries. ametek has a track record of exceptional financial and market success, and our vision is to double the size and profitability of the company within the next five years. ametek's corporate growth plan is based on four key strategies: operational excellence strategic acquisitions & alliances global & market expansion new products ametek colleagues worldwide are committed to our success. through their hard work and dedication, we will achieve our vision for ametek. for more information on ametek career opportunities, visit our web page below.