Business

ITW to acquire division of MTS

Posted January 18, 2021 10:00 pm

GLENVIEW - Illinois Tool Works Inc. said Tuesday it has agreed to buy MTS Systems Corp.'s Test & Simulation business. The acquisition will be finalized following the closing of Connecticut-based Amphenol Corp.'s acquisition of MTS, the companies said.

MTS Systems is located in Eden Prairie, Minnesota.

"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," said E. Scott Santi, Glenview-based ITW's chairman and CEO.

Amphenol's acquisition of MTS is expected to close by the middle of 2021, subject to certain regulatory approvals, approval from MTS's shareholders and other customary closing conditions. Terms of the two acquisitions were undisclosed.

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