Fortive has entered into a definitive agreement to acquire EA Elektro-Automatik, a supplier of high-power electronic test solutions for energy storage, mobility, hydrogen, and renewable energy applications, for $1.45B in cash, net of $215M of tax benefits from Bregal Unternehmerkapital. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in early Q1 2024. Fortive expects to finance the acquisition with available cash and debt financing. The acquisition is expected to be accretive to adjusted gross and operating margins and neutral to modestly accretive to adjusted diluted net EPS in FY24.
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