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AMETEK To Acquire Embedded Computing Systems Developer Abaco Systems

Cal Biesecker By
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AMETEK To Acquire Embedded Computing Systems Developer Abaco Systems
Abaco System's product portfolio includes advanced vehicle computer. Photo: Abaco

AMETEK, Inc. [AME] on Monday said it has agreed to acquire Abaco Systems, Inc., a developer and supplier of embedded computing systems, for $1.4 billion in cash from the private equity firm Veritas Capital in a deal that expands its capabilities and exposure in aerospace and defense. The transaction is expected to close in mid-2021 and is subject to regulatory approvals. Abaco, which is based in Huntsville, Ala., has annual sales of about $325 million and about 750 employees. The…

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