Fortive Corporation FTV recently announced that it has completed the acquisition of Advanced Sterilization Products (“ASP”) from Johnson & Johnson’s (JNJ) subsidiary, Ethicon, Inc. for approximately $2.7 billion.ASP offers infection prevention solutions that are used in disinfection and sterilization of reusable surgical instruments. These solutions, which are based on low-temperature hydrogen peroxide sterilization technology, help in protecting patients from hospital infections. Last year, it generated $800 million of revenues.With this latest move, the company will be able to foray into the rapidly growing infection control market. Per data from Markets and Markets, the said market is expected to witness a CAGR of 6.5% between 2017 and 2022, and reach 21.06 billion by 2022 from $15.35 billion in 2017.Expanding Product PortfolioThe ASP deal will help the company to expand its product portfolio. The products of ASP include STERRAD, EVOTECH and ENDOCLENS, which have gained popularity in the global market.We believe that the company is well poised to gain from this acquisition and the market in which ASP operates, along with its own products namely Gilbarco Veeder-Root, Fluke, Sensing technologies, Tektronix, Qualitrol and Jacobs Vehicle Systems. Notably, all these products, which performed well in the last reported quarter, are expected to sustain the performance of Fortive across the geographical regions served by the company.Bottom LineStrategic acquisitions and other deals have significantly contributed to Fortive’s growth trajectory via expanding its product portfolio. The company expects the buyout of ASP to be accretive to future earnings, similar to previous acquisitions.Last year, the company closed the Gordian and Accruent buyouts. In addition, it closed the divestiture of automation and specialty businesses to Altra.Additionally, the company’s acquisitions of Orpak, Industrial Scientific, eMaint and Landauer have been aiding segmental and regional performance of the company in every quarter.Notably, these deals will continue to help it in gaining momentum in the markets served by the companyvia improving its customer base. This will in turn aid Fortive’s top-line growth.Fortive Corporation Price and Consensus Fortive Corporation Price and Consensus | Fortive Corporation QuoteZacks Rank & Stocks to ConsiderCurrently, Fortive carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same industry include Expedia Group, Inc. EXPE, Ctrip.com International, Ltd. CTRP and ASOS plc ASOMY, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Long-term earnings growth for Expedia, Ctrip.com and ASOS is currently projected at 13.4%, 23% and 8%, respectively.Is Your Investment Advisor Fumbling Your Financial Future?See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”Click to get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Expedia Group, Inc. (EXPE): Free Stock Analysis Report Ctrip.com International, Ltd. (CTRP): Free Stock Analysis Report Fortive Corporation (FTV): Free Stock Analysis Report ASOS PLS ADR (ASOMY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research