AMETEK completes acquisition of Abaco Systems

AMETEK, Inc. 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.