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Ametek Buys Gatan From Roper For $925M In Cash

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Ametek Buys Gatan From Roper For $925M In Cash

Ametek, Inc. (NYSE: AME) is to acquire Gatan from Roper Technologies, Inc. (NYSE: ROP) in a cash transaction valued at $925 million.

Gatan is a direct detection technology for electron microscopy that supports research to solve challenges in materials and life sciences.

Gatan has annual sales of approximately $180 million and is headquartered in Pleasanton, California.

The transaction is expected to close in the fourth quarter of 2019. Once the deal is closed, Gatan will join Ametek as part of its electronic instruments group.

"Gatan is an outstanding company and nicely complements our existing portfolio of specialized offerings in high-end analytical instrumentation. Their differentiated technology solutions, premier brand and leadership positions in attractive growth markets make this a highly attractive acquisition for Ametek," Ametek CEO David Zapico said in a statement. 

Ametek shares were trading up by nearly 1% to $91.04 at the time of publication Friday, while Roper shares were up 1.05% at $358.89.

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Posted-In: M&A News Best of Benzinga

 

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