Molex Acquires Italy-Based Manufacturer Westec s.r.l.
As of June 20, 2014, AMETEK has completed its acquisition of Zygo Corporation (NASDAQ: ZIGO) for $19.25 per share in cash per fully diluted common share, or approximately $280 million net of cash acquired. The completion of the transaction follows approval from Zygo shareholders and the receipt of all regulatory approvals. As a result of the completion of the merger, the common stock of Zygo no longer will be listed for trading.
Frank S. Hermance, AMETEK's chairman and chief executive officer said the company is pleased to announce the closing of the "highly strategic transaction" and are excited to bring the Zygo team onboard.
Zygo will be part of AMETEK's Ultra Precision Technologies Division within its Electronic Instruments Group. Zygo provides optical metrology solutions, high-precision optics, and optical assemblies for use in a wide range of scientific, industrial, and medical applications. For the calendar year ended December 31, 2013, Zygo had sales of approximately $162 million.
"Zygo's leading position in non-contact optical metrology nicely complements our strength in contact metrology and will enable us to offer our customers a full range of metrology solutions," Hermance said.