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AMETEK, Inc. (NYSE: AME), Berwyn, PA, has agreed to acquire Zygo Corporation (NASDAQ: ZIGO), Middlefield, CT, in a cash purchase. The value of the transaction is approximately $280 million.
Zygo is a provider of optical metrology solutions, high precision optics and optical assemblies for use in a wide range of scientific, industrial, and medical applications. For 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 enables us to offer our customers a full range of metrology solutions," said Frank S. Hermance, AMETEK's CEO.
The transaction is expected to be completed towards the end of the second quarter of calendar 2014.