ITW Completes Acquisition of MTS Test & Simulation Business

Rhea-AI Summary

Illinois Tool Works (ITW) has successfully completed its acquisition of the MTS Test & Simulation business from Amphenol Corporation. This strategic move is expected to enhance ITW's capabilities in advanced testing and simulation solutions, thereby expanding its product offerings and market reach.

Positive

• Strengthened product portfolio through MTS acquisition.
• Potential for revenue growth in advanced testing solutions.

Negative

• None.

GLENVIEW, Ill., Dec. 01, 2021 (GLOBE NEWSWIRE) -- Illinois Tool Works Inc. (NYSE: ITW) today announced that it has completed the acquisition of the MTS Test & Simulation business from Amphenol Corporation (NYSE: APH).

About Illinois Tool Works
ITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $12.6 billion in 2020. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW’s approximately 43,000 dedicated colleagues around the world thrive in the company’s decentralized and entrepreneurial culture. www.itw.com

Media Contact	Investor Relations
Illinois Tool Works	Illinois Tool Works
Tel: 224.661.7451	Karen Fletcher
mediarelations@itw.com	Tel: 224.661.7433
	investorrelations@itw.com

                                                       
                                                  
                                                  
                                        
                                                

FAQ

What is the significance of ITW acquiring MTS Test & Simulation?

The acquisition enhances ITW's capabilities in advanced testing solutions, expanding its market reach.

When did ITW complete the acquisition of MTS Test & Simulation?

ITW announced the completion of the acquisition on December 1, 2021.

How will the MTS acquisition impact ITW's revenue?

The acquisition is expected to contribute to revenue growth by broadening ITW's product offerings in the testing and simulation market.

What company sold the MTS Test & Simulation business to ITW?

The MTS Test & Simulation business was sold to ITW by Amphenol Corporation.