September 27, 2019 / 12:36 PM / 24 days ago

Ametek to buy Roper Tech's unit for $925 million

(Reuters) - Electronic instruments maker Ametek Inc (AME.N) said on Friday it would buy a unit of Roper Technologies Inc (ROP.N), Gatan Inc, for $925 million in cash, a few months after Thermo Fisher Scientific Inc (TMO.N) scrapped its plan to buy the business.

Gatan makes specialized “peripherals” such as filters and cameras used in electron microscopes, while Ametek manufactures instruments used in various industries ranging from aerospace and defense to oil and gas.

Thermo Fisher’s $925 million deal to buy Gatan collapsed after Britain’s Competition and Markets Authority launched an in-depth inquiry into the deal..

The deal is expected to close in the fourth quarter of 2019, Ametek said in a statement.

Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Amy Caren Daniel

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