The company will also have a new CEO once the deal is completed in late 2025.
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The deal figures to further boost Fortive's electronic test and measurement offering alongside its Fluke brand.
In the latest earnings reporting period for publicly-traded companies, these distributors and manufacturers reported strong sales figures.
The company’s board of directors approved regular quarterly cash dividend of $0.07 per share of its common stock, par value $0.01 per share.
Fortive Corp. says its board authorized a repurchase program under, which Fortive may purchase up to 20 million shares of its common stock.
Fortive posted a second-quarter profit of close to $181 million compared to $130 million in the same quarter a year ago.
