Abaco Systems Sold for $1.35 billion
Ametek has agreed to purchase Huntsville-based Abaco Systems for $1.35 billion, the Pennsylvania-based company said in a news release.
A maker of electronics equipment, Ametek will acquire Abaco Systems in an all-cash transaction; it is expected to close in mid-2021.
Abaco Systems specializes in open-architecture computing and electronic systems for aerospace, defense, and specialized industrial markets. Their ruggedized products are designed to withstand harsh operating environments such as extreme temperature and high vibration.
“We are excited for the opportunity to acquire Abaco Systems,” said Ametek Chairman/CEO David Zapico. “Their market leading embedded computing solutions are ideally positioned across a number of attractive aerospace and defense platforms, further broadening our differentiated product offering serving these markets.”
Abaco Systems has annual sales of approximately $325 million. Upon closing, Abaco Systems will join Ametek as part of its Electronic Instruments Group – a leader in advanced analytical, monitoring, testing, calibrating and display instruments with annualized sales of $3 billion.
