BERWYN, PA — AMETEK, Inc. (NYSE: AME) 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.
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