EVERETT, Wash. — Fortive Corp. announced Monday that it has entered into a definitive agreement to acquire EA Elektro-Automatik Holding GmbH, a leading supplier of high-power electronic test solutions for energy storage, mobility, hydrogen and renewable energy applications, for $1.45 billion in cash, net of $215 million of tax benefits, from Bregal Unternehmerkapital.
The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in early first quarter of 2024.
“We are pleased to announce our agreement to acquire EA Elektro-Automatik to enhance our leading position in electronic test and measurement, helping to enable the global energy transition," said Fortive President and CEO James Lico. "This acquisition will further position Fortive in multi-decade, multi-industry, high growth markets, leveraging Tektronix’s global franchise and the power of the Fortive Business System to create unparalleled value for customers and shareholders.”
Fortive expects to finance the acquisition with available cash and debt financing. The acquisition is expected to be accretive to adjusted gross and operating margins and neutral to modestly accretive to adjusted diluted net earnings per share in fiscal 2024.
