WASHINGTON (dpa-AFX) - AMETEK, Inc. (AME), a global manufacturer of electronic instruments and electromechanical devices, has agreed to acquire Abaco Systems, Inc., a provider of mission critical embedded computing systems, from Veritas Capital in an all-cash deal valued at $1.35 billion. Headquartered in Huntsville, Alabama, 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.
AMETEK expects the acquisition to close mid-2021. Abaco Systems will join AMETEK as part of its Electronic Instruments Group.
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