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Ametek (NYSE: AME) merges with Zygo (NASDAQ: ZIGO)

Brian Hicks

Written By Brian Hicks

Posted April 11, 2014

Friday morning electronic and electromechanical instrument company Ametek announced it is merging with optical instrument company Zygo Corporation. Ametek will acquire all outstanding shares of Zygo Corporation for $19.25 cash. Shares in Zygo closed at $14.68 on Thursday, so this acquisition price amounts to a 31% premium for existent shareholders. The aggregate value of the transaction is about $280 million.

Zygo is an excellent acquisition for Ametek. We are excited about the opportunity to acquire such a strong brand and technology leader,” Frank S. Hermance, Ametek Chairman and Chief Executive Officer said in a press statement on Friday. “Zygo’s leading position in non-contact optical metrology nicely complements our strength in contact metrology and enables us to offer our customers a full range of metrology solutions.”

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