Ametek Inc., the Berwyn-based maker of electronic instruments and electromechanical devices, says it will pay $925 million to buy Pleasanton, Calif.-based Gatan, a maker of electron-microscope instruments and software with sales across Europe and Asia.
Ametek is buying Gatan from Florida-based Roper Technologies Inc. It is the highest-priced of a series of Ametek acquisitions since David A. Zapico was named Ametek’s chief executive officer in 2016. The company employs around 16,000 people worldwide, including 600 in the Philadelphia area.
Gatan builds “direct detection” technology used by biosciences and materials companies to prepare and analyze specimens. The company makes electron microscopy cameras and instruments, electron-energy filters, software, and accessories.
Not counting Gatan’s $180 million in yearly sales, Ametek revenues have risen to $5 billion in the most recent 12-month period, from $3.8 billion when Zapico took over. With sales and profits rising, shares have doubled in value during that time. The stock was trading at just under $91 Friday, a gain of about 34% since the beginning of the year.
In a statement, Zapico called Gatan “an outstanding company” that complements Ametek’s own analytical instruments and adds fast-growing markets.
Roper chief executive Neil Hunn called Ametek “a great fit” for Gatan. It’s the second transaction with a local company in two months. Roper in August bought Exton-based insurance software maker iPipeline for $1.6 billion.