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AMETEK Completes Acquisition of Abaco Systems

Published: 2021-04-29 12:00:00 ET

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 ProfileAMETEK 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 ColemanVice President, Investor Relations1100 Cassatt RoadBerwyn, Pennsylvania 19312kevin.coleman@ametek.comPhone: 610.889.5247

View original content:http://www.prnewswire.com/news-releases/ametek-completes-acquisition-of-abaco-systems-301279661.html

SOURCE AMETEK, Inc.

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Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.