ITW acquires Speedline

Illinois Tool Works Inc., of Glenview, IL. has signed a definitive agreement to acquire Speedline Technologies, Inc., a provider in process knowledge and expertise for the printed circuit board assembly and semiconductor packaging industries, from KPS Special Situation Funds. Terms of the transaction were not disclosed and are subject to normal regulatory approvals. Pierre de Villemejane, Speedline's Chief Executive Officer, believes the acquisition of Speedline by ITW will enable Speedline to improve its ability to continue providing advanced, innovative products to its customers worldwide. "ITW has a great foundation in engineered products-based business units, which is a great fit for the Speedline portfolio of products. With strong market position and great name recognition across all of our brands, Speedline increases the overall shareholder value. Applying ITW's business strategies, which are centered upon 80/20 methodologies, Speedline will become a stronger, more focused business unit."