Abaco Systems to be bought by AmetekNews
March 22, 2021
BERWYN, Pennsylvania and HUNTSVILLE, Alabama. Officials from Ametek announced that the company has entered into a definitive agreement to acquire Abaco Systems, Inc., a provider of mission-critical embedded computing systems for electronic warfare, radar, avionics, communications, and other military applications from Veritas Capital in an all-cash transaction valued at $1.35 billion.
Abaco Systems, which Veritas acquired from GE about five years ago, specializes in open-architecture computing and electronic systems for aerospace, defense, and specialized industrial markets. The company is also active in key Department of Defense (DoD) open architecture initiatives such as the Future Airborne Capability Environment (FACE) and the Sensor Open Systems Architecture (SOSA) as well as industry standards organizations like VITA.
Their ruggedized products are designed to withstand harsh operating environments such as extreme temperature and high vibration, such as the C-130 aircraft pictured here.
“We are excited for the opportunity to acquire Abaco Systems. Their market leading embedded computing solutions are ideally positioned across a number of attractive aerospace and defense platforms, further broadening our differentiated product offering serving these markets,” says David A. Zapico, AMETEK Chairman and Chief Executive Officer.
Abaco Systems has annual sales of approximately $325 million and is headquartered in Huntsville, Alabama. The transaction is subject to customary closing conditions, including applicable regulatory approvals, and is expected to close mid-2021, according to an Ametek release. Upon closing, Abaco Systems will 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.
AMETEK is a manufacturer of electronic instruments and electromechanical devices with annual sales in 2020 of more than $4.5 billion.