AMETEK, Inc. (NYSE: AME) Makes Strategic Acquisition of Virtek Vision International

AMETEK, Inc., a leading global provider of industrial technology solutions, has recently announced the acquisition of Virtek Vision International. Based in Berwyn, Pa., the company disclosed this transaction on October 31, 2024. Virtek Vision International is recognized as a prominent supplier of advanced laser-based projection and inspection systems for various industries.

Specializing in cutting-edge 3D laser projectors, smart cameras, and quality control inspection systems, Virtek utilizes AI-driven software and algorithms to enhance manufacturing processes. Their innovative machine vision solutions offer precise, virtual laser guided measurement and inspection capabilities, enabling automation of intricate assembly operations and boosting manufacturing efficiencies across aerospace, defense, and industrial sectors.

David A. Zapico, the Chairman and Chief Executive Officer of AMETEK, expressed enthusiasm about incorporating Virtek into the AMETEK family, citing the acquisition as a significant strategic fit with the company’s Creaform business. By integrating Virtek’s advanced technology capabilities with Creaform’s existing strengths, AMETEK aims to offer a comprehensive suite of automated 3D scanning and inspection solutions supported by sophisticated software and algorithms.

Virtek is based in Waterloo, Canada, and currently boasts annual sales of approximately $40 million. Following the acquisition, Virtek will become a part of AMETEK’s Electronic Instruments Group (EIG), a prominent provider of advanced analytical, monitoring, testing, calibrating, and display instrumentation.

AMETEK, founded in 1930 and listed on the NYSE for over 90 years, has an annual sales figure of about $7.0 billion. The company operates with a focus on its AMETEK Growth Model, which integrates Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions, while maintaining a disciplined approach to cash generation and capital deployment. AMETEK aims for double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital.

Investors seeking more information about AMETEK and its recent acquisition of Virtek Vision International can visit the company’s official website at www.ametek.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AMETEK’s 8K filing here.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.