Ametek to acquire Zygo Corp.
BERWYN, Pa. and MIDDLEFIELD, Conn., April 11, 2014 — Ametek Inc. is poised to acquire Zygo Corp. for roughly $280 million.
The deal was unanimously approved by Zygo’s board of directors but must still be approved by regulators and Zygo's stockholders. MAK Capital One LLC, a financial investment advisory firm controlled by Michael A. Kaufman, the chairman Zygo’s board of directors, which beneficially owns approximately 23.6 percent of the outstanding shares of Zygo, as well Zygo CEO Gary Willis, have agreed to vote their shares of common stock in favor of the merger.
The transaction is expected to be completed toward the end of the second quarter of calendar 2014.
"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," said Ametek Chairman and CEO Frank S. Hermance.
Founded in 1970 and headquartered in Middlefield, Conn., Zygo manufactures products for optical metrology solutions, high precision optics and optical assemblies for scientific, industrial, and medical applications. For calendar year 2013 Zygo had sales of approximately $162 million.
Ametek is a global manufacturer of electronic instruments and electromechanical devices with annual sales of $3.6 billion.
For more information, visit www.ametek.com