ITW - ITW to buy MTS Test & Simulation business from Ampheno

Illinois Tool Works (ITW) +2.8% pre-market after agreeing to acquire MTS Systems' (MTSC) Test & Simulation business, following the closing of Amphenol's (APH) acquisition of MTS; terms are not disclosed."MTS's Test & Simulation business is highly complementary to our existing Test & Measurement and Electronics business and positions us in new and attractive industry verticals," ITW Chairman and CEO Scott Santi says."Capitalizing on its position of strength and looking to gain share vs. peers forced to restructure or cut costs" during the pandemic downturn," Illinois Tool shares were upgraded last week to Outperform by Credit Suisse.

For further details see:

ITW to buy MTS Test & Simulation business from Ampheno