BERWYN, Pa. and SARASOTA, Fla., Sept.
27, 2019 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today
announced that it has signed a definitive agreement to acquire
Gatan, a leading manufacturer of instrumentation and software used
to enhance and extend the operation and performance of electron
microscopes, from Roper Technologies, Inc. (NYSE: ROP) in an
all-cash transaction valued at $925
million.
Gatan is a pioneer in direct detection technology for electron
microscopy, supporting high-end research to solve some of the
world's most complex challenges in materials and life sciences. The
Company's solutions enable improved microscopy workflows in
specimen preparation, imaging and analysis. Gatan's product
portfolio includes electron microscopy cameras and instrumentation,
electron energy filters, software and accessories.
"We are very excited to welcome Gatan to AMETEK," comments
David A. Zapico, AMETEK Chairman and
Chief Executive Officer. "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 is an ideal home for Gatan to continue its revolutionary
work enabling electron microscopy technology," said Neil Hunn, Roper's President and CEO. "The
combination of these businesses will be a great fit for Gatan's
talented employees and loyal customers. We would like to thank
everyone at Gatan for their contributions to Roper and wish them
continued success."
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 and is subject to
customary closing conditions, including applicable regulatory
approvals. Upon closing, Gatan will join AMETEK as part of its
Electronic Instruments Group (EIG) - a leader in advanced
analytical, monitoring, testing, calibrating and display
instrumentation.
About AMETEK
AMETEK is a leading global manufacturer
of electronic instruments and electromechanical devices with annual
sales of approximately $5.0 billion.
The AMETEK Growth Model integrates the Four Growth Strategies -
Operational Excellence, New Product Development, Global and Market
Expansion, and Strategic Acquisitions - with a disciplined focus on
cash generation and capital deployment. 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.
About Roper Technologies
Roper Technologies is a
constituent of the S&P 500, Fortune 1000, and the Russell 1000
indices. Roper operates businesses that design and develop software
(both license and software-as-a-service) and engineered products
and solutions for a variety of niche end markets. Additional
information about Roper is available on the Company's website at
www.ropertech.com.
About Gatan
Gatan is a leading manufacturer of
instrumentation and software used to enhance and extend the
operation and performance of electron microscopes. Gatan's
products, which are fully compatible with all brands of electron
microscopes, cover the entire range of the analytical process from
specimen preparation and manipulation to imaging and analysis. Its
customer base spans the complete spectrum of end users of
analytical instrumentation typically found in industrial,
governmental and academic laboratories. The applications addressed
by these scientists and researchers include metallurgy,
semiconductors, electronics, biological science, new materials
research and biotechnology. The Gatan brand name is recognized and
respected throughout the worldwide scientific community and has
been synonymous with high-quality products and the industry's
leading technology.
Contact:
AMETEK, Inc.
Kevin Coleman, Vice President,
Investor Relations
kevin.coleman@ametek.com
Phone: 610.889.5247
Roper Technologies, Inc.
Investor Relations
Investor-relations@ropertech.com
Phone: 941.556.2601
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SOURCE AMETEK, Inc.