By Michael Dabaie

Illinois Tool Works Inc. said it would acquire MTS Systems Corp.'s Test & Simulation business following the closing of Amphenol Corp.'s acquisition of MTS.

"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 ITW Chief Executive E. Scott Santi.

Amphenol's acquisition of MTS is expected to close by the middle of 2021. ITW's acquisition of the MTS Test & Simulation business from Amphenol is expected to close after Amphenol closes the MTS deal. ITW said it didn't disclose the terms of the transaction.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

January 19, 2021 08:36 ET (13:36 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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