AMETEK Finalizes Zygo Corp. Purchase

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AMETEK of Berwyn completed its acquisition of Zygo Corporation last week.

The purchase was for $19.25 per share in cash per fully diluted common share, or approximately $280 million net of cash acquired.

Frank Hermanace
Frank Hermanace

“We are pleased to announce the closing of this highly strategic transaction and are excited to welcome the Zygo team to AMETEK,” said Frank S. Hermance, AMETEK chairman and chief executive officer.

“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,” Hermanace said.

AMETEK announced earlier this year it was purchasing two firms in the first quarter, Zygo as well as VTI Instruments of Irvine, Ca. VTI has $38 million in annual sales of high precision test and measurement instruments.  That purchase price was $74 million.

Zygo joins AMETEK as part of its Ultra Precision Technologies Division within AMETEK’s 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. During 2013 Zygo had $162 million in sales.

Zygo’s common stock will no longer be listed for trading.

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