Fortive Buying EA Elektro-Automatik For $1.45 Billion: Details

By Noah Long ● Oct 26, 2023

Fortive Corporation announced that it has entered into a definitive agreement to acquire EA Elektro-Automatik Holding GmbH (EA), 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. And the deal is subject to customary closing conditions and regulatory approvals and is expected to close in the early first quarter of 2024.

Fortive plans to finance the acquisition with available cash and debt financing. And 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.

Fortive is a provider of essential technologies for connected workflow solutions across a range of end-markets. And 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 on 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.


“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. 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.”

— James A. Lico, President and Chief Executive Officer of Fortive

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