Fortive Announces Completion of EA Elektro-Automatik Acquisition
03 Enero 2024 - 6:02AM
Business Wire
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.
ABOUT FORTIVE
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. For more information please visit:
www.fortive.com.
FORWARD-LOOKING STATEMENTS
Statements in this release that are not strictly historical,
including statements regarding future product solutions, future
financial and operational impact or results of the acquisition, the
anticipated financial performance for Fortive or EA, the
anticipated prospects of EA or the industry following the
acquisition, anticipated return on investment, future growth
opportunities following the acquisition, future synergy, and any
other statements regarding events or developments that Fortive
expects or anticipates will or may occur in the future, are
“forward-looking” statements within the meaning of the federal
securities laws. There are a number of important factors that could
cause dividend payments and dividend schedule to differ materially
from those suggested or indicated by such forward-looking
statements and you should not place undue reliance on any such
forward-looking statements. These factors include, among other
things: deterioration of or instability in the economy, the markets
we serve, international trade policies, the condition of the
financial markets and the banking systems, the spread of, and the
future resurgence of COVID-19, our ability to adjust purchases,
supply chain management, and manufacturing capacity to reflect
market conditions and customer demand, reliance on sole sources of
supply, changes in relations with China, contractions or lower
growth rates and cyclicality of markets we serve, competition,
changes in industry standards and governmental regulations, our
ability to recruit and retain key employees, our ability to
successfully identify, consummate, integrate and realize the
anticipated value of appropriate acquisitions and successfully
complete divestitures and other dispositions, our ability to
develop and successfully market new products, software, and
services and expand into new markets, the potential for improper
conduct by our employees, agents or business partners, contingent
liabilities relating to acquisitions and divestitures, impact of
changes to tax laws, our compliance with applicable laws and
regulations and changes in applicable laws and regulations, risks
relating to international economic, geopolitical, including war and
sanctions, legal, compliance and business factors, risks relating
to potential impairment of goodwill and other intangible assets,
currency exchange rates, tax audits and changes in our tax rate and
income tax liabilities, the impact of our debt obligations,
including our cost of debt, on our operations, litigation and other
contingent liabilities including intellectual property and
environmental, health and safety matters, our ability to adequately
protect our intellectual property rights, risks relating to
product, service or software defects, product liability and
recalls, risks relating to product manufacturing, our relationships
with and the performance of our channel partners, commodity costs
and surcharges, security breaches or other disruptions of our
information technology systems, adverse effects of restructuring
activities, risk related to tax treatment of the separation of
Vontier, impact of our indemnification obligation to Vontier,
impact of changes to U.S. GAAP, labor matters, and disruptions
relating to man-made and natural disasters and climate change.
Additional information regarding the factors that may cause actual
results to differ materially from these forward-looking statements
is available in our SEC filings, including our Annual Report on
Form 10-K for the year ended December 31, 2022. These
forward-looking statements speak only as of the date of this
release, and Fortive does not assume any obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events and developments or otherwise.
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Elena Rosman Vice President, Investor Relations Fortive
Corporation 6920 Seaway Boulevard Everett, WA 98203 Telephone:
(425) 446-5000
Fortive (NYSE:FTV)
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