AMETEK Announces Agreement to Acquire Abaco Systems
On March 22, 2021 AMETEK, Inc. announced that it has entered into a definitive agreement to acquire Abaco Systems, Inc., a leading provider of mission critical embedded computing systems, from Veritas Capital in an all-cash transaction valued at $1.35 billion. The transaction is subject to customary closing conditions including applicable regulatory approvals and is expected to close mid-2021.
Upon closing, Abaco Systems will join AMETEK as part of its Electronic Instruments Group (EIG) – a leader in advanced analytical, monitoring, testing, calibrating and display instruments with annualized sales of $3.0 billion.
With annual sales of approximately $325 million, Abaco Systems is a market leader within the embedded computing solutions market. Abaco is also ideally positioned across a number of attractive aerospace and defense platforms that can broaden Ametek’s offerings in aerospace and defense applications.
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By Mostafa Mansour