09:08 AM EDT, 07/23/2024 (MT Newswires) -- IDEX ( IEX ) said Tuesday it has agreed to acquire metal products manufacturer Mott for $1 billion in cash.

The specialty engineered products manufacturer said it expects the acquisition, slated to close by the end of Q3, to expand IDEX's ( IEX ) capabilities in markets such as semiconductors, energy, water, and space.

The deal will be funded through a mix of cash, existing credit facilities, and potential debt issuance, IDEX ( IEX ) said.

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