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Teledyne Technologies acquires a portion of its optoelectronic business

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2024-11-12 10:51:47
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Recently, Teledyne Technologies announced that it has reached an agreement to acquire a portion of Excelitas Technologies' aerospace and defense electronics business for $710 million in cash.

This acquisition includes the optical systems business under the Qioptiq brand headquartered in North Wales, UK, as well as the Advanced Electronic Systems (AES) business headquartered in the United States.

It is understood that the optical systems business headquartered in the UK provides advanced optical components for head up displays, helmet displays, and tactical night vision systems under armor, as well as proprietary glass for space and satellite applications. In the United States, AES provides customized energy components for defense and space applications, including electronic security and arm devices, high-voltage semiconductor switches, and rubidium atomic frequency standards. This transaction is expected to be completed in early 2025 and is subject to meeting standard closing conditions, including obtaining regulatory approval.

Teledyne Technologies is a leading supplier of precision electronic equipment, auxiliary systems, instruments, and communication devices. Founded in 1960, it has four major departments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineering Systems. It holds industry leadership positions in multiple sub sectors such as environmental monitoring instruments and digital imaging.

Meanwhile, Teledyne Technologies has maintained stable sales and profit growth over the past 20 years, with sustained strong cash flow. The latest market value is about 19.2 billion US dollars, demonstrating its strong financial strength and market value.

In addition to this transaction, Teledyne Technologies and Micropac Industries have also announced that they have reached a final merger agreement, which stipulates that Micropac will merge with Teledyne's wholly-owned subsidiary. Teledyne will acquire all issued and outstanding common shares of Micropac for $20 per share in cash, valuing Micropac at $57.3 million. The transaction is expected to be completed by the end of 2024.

Micropac was founded in 1963, specializing in the design and manufacture of optoelectronic components, sensors and display assemblies, as well as microelectronic products, primarily for military, aerospace, and medical applications.

Source: OFweek

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