Skip to main content

Market Overview

Ametek In Advanced Talks To Buy Abaco Systems For $1.5B: Report

Ametek In Advanced Talks To Buy Abaco Systems For $1.5B: Report

Ametek Inc (NYSE: AME) is said to be nearing a $1.5 billion deal to acquire Abaco Systems Inc for as much as $1.5 billion.

What Happened: The electronics instruments maker is talking with its current owner and private equity firm Veritas Capital to acquire the former General Electric Co (NYSE: GE) subsidiary, Bloomberg reported on Sunday, citing people with knowledge of the matter.

Abaco primarily offers products and services related to rugged computing in sectors like defense and aerospace in addition to commercial and industrial organizations. It was bought by Veritas in December 2015 for an undisclosed amount and was then named GE Intelligent Platforms.

Why It Matters: Ametek employs about 17,000 people across 30 countries, Bloomberg noted based on its website. The stock has risen about 107% over a year, and is down about 0.2% year-till-date.

Veritas, which raised its first fund in 1998, focuses its deals on businesses that interact with the government, including in aerospace, defense, and technology, according to its website. 

A final decision hasn’t been made and Veritas could decide to sell to another buyer or keep the business, the Bloomberg report said.

Price Action: Ametek shares closed 0.75% lower at $120.7 on Friday.

Photo: Courtesy of Abaco


Related Articles (AME)

View Comments and Join the Discussion!

Posted-In: Rugged ComputingM&A News Rumors Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at