Fortive Announces Completion of EA Elektro-Automatik Acquisition
Fortive Announces Completion of EA Elektro-Automatik Acquisition.
Fortive Corporation (“Fortive”) (NYSE: FTV) today announced that it has completed its acquisition of EA Elektro-Automatik (EA) Holding GmbH, enhancing Fortive’s position in electronic test & measurement solutions within its Precision Technologies segment.
EA specializes in high-power electronic test solutions for energy storage, mobility, hydrogen, and renewable energy applications. EA products will bolster Fortive operating company Tektronix’s innovative portfolio of products and services for engineers with complementary test & measurement solutions enabling the global energy transition.
James A. Lico, President and Chief Executive Officer of Fortive, stated:
We are pleased to welcome the EA team to Fortive. This acquisition marks an important milestone for our Precision Technologies segment as we add a highly synergistic complement to the robust offerings at Tektronix.
“We are excited about the expected long-term contributions that EA will bring to our customers, our solutions and our financial results as we enhance our participation in this expanding multi-industry market.”
The acquisition will be discussed further during Fortive’s fourth quarter 2023 earnings call which is scheduled for Wednesday, January 31, 2024 at 12:00 p.m. ET. Please refer to the Fortive press release from December 21, 2023 for conference call access details.
Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. Fortive’s strategic segments—Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions—include well-known brands with leading positions in their markets. The company’s businesses design, develop, service, manufacture, and market professional and engineered products, software, and services, building upon leading brand names, innovative technologies, and significant market positions. Fortive is headquartered in Everett, Washington and employs a team of more than 18,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world. With a culture rooted in continuous improvement, the core of our company’s operating model is the Fortive Business System.