BERWYN, Pa., Nov. 1, 2018 /PRNewswire/ -- AMETEK, Inc. (NYSE:
AME) today announced that it has completed two acquisitions:
Telular Corporation, a leading provider of communication solutions
for logistics management, tank monitoring and security
applications, and Forza Silicon Corporation, a leader in the design
and production of high-performance imaging sensors used in medical,
defense, commercial and industrial applications. Combined, AMETEK
deployed approximately $565 million
on these acquisitions.
"We are very excited to welcome Telular and Forza to AMETEK, as
they are both excellent companies with differentiated technology
solutions serving attractive market segments," comments
David A. Zapico, AMETEK Chairman and
Chief Executive Officer. "2018 has proven to be a record year on
the acquisition front and we remain pleased with our efforts in
this area as our teams continue to manage a robust pipeline of
additional opportunities."
Both companies join AMETEK as part of its Electronic Instruments
Group (EIG) - a leader in advanced analytical, monitoring, testing,
calibrating and display instruments with annualized sales of
$3.0 billion.
Telular
Telular is a leading provider of
communication solutions for logistics management, tank monitoring
and security applications. Telular's end-to-end solutions include
purpose-built hardware, proprietary software and wireless
connectivity services to enhance the efficiency and safety of
critical assets.
"We are very excited about the acquisition of Telular. Their
software-enabled IoT solutions drive attractive, recurring revenue
along with long-term customer relationships," noted Mr. Zapico.
"The combination of Telular's IoT capabilities and AMETEK's highly
differentiated measurement technology provides additional growth
opportunities for our businesses."
Telular was acquired for approximately $525 million and has annual sales of
approximately $165 million. They are
headquartered in Chicago,
Illinois.
Forza Silicon
Forza Silicon is a leader in the
design and production of high-performance imaging sensors used in
medical, defense, commercial and industrial applications.
"Forza is a highly strategic technology acquisition for AMETEK,"
added Mr. Zapico. "Customers rely on Forza's leading-edge design
capability to support their advanced sensor development projects.
Forza also provides our Vision Research business with custom sensor
design and production capability, allowing for accelerated
development of next generation sensor technology for use across our
market leading, high-speed cameras."
Forza has annual sales of approximately $20 million and was acquired for approximately
$40 million. They are
headquartered in Pasadena,
California.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with annualized sales of approximately $4.8 billion. AMETEK's growth model is based on
Four Key Strategies: Operational Excellence, Strategic
Acquisitions, Global & Market Expansion and New Products.
AMETEK's objective is double-digit percentage growth in earnings
per share over the business cycle and a superior return on total
capital. The common stock of AMETEK is a component of the S&P
500 Index.
Contact:
AMETEK, Inc.
Kevin Coleman
Vice President, Investor Relations
1100 Cassatt Road
Berwyn, Pennsylvania 19312
kevin.coleman@ametek.com
Phone: 610.889.5247
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SOURCE AMETEK, Inc.