Ametek, Inc. (NYSE: AME), a Berwyn, Pa.-based global manufacturer of electronic instruments and electromechanical devices, completed its acquisition of Abaco Systems, Inc., a provider of mission critical embedded computing systems, in an all-cash transaction valued at $1.35 billion.
With the acquisition, Abaco’s computing and electronic solutions complement Ametek’s existing aerospace and defense businesses, expanding its positions across many growth platforms.
With annual sales of approximately $325 million, Abaco joins Ametek as part of its Electronic Instruments Group (EIG), – a provider of advanced analytical, monitoring, testing, calibrating and display instruments.
Led by David A. Zapico, Chairman and Chief Executive Officer, Ametek is a global manufacturer of electronic instruments and electromechanical devices with annual sales in 2020 of more than $4.5 billion. The company’s 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.