Teledyne buys testing tech firm for $291 million
Deal will "broaden portfolio of analytical instrumentation businesses" says Teledyne CEO
THOUSAND OAKS, Calif.—Teledyne Technologies Inc. has bought instrument manufacturer LeCroy Corp. for about $291 million.
Teledyne will acquire all outstanding common shares for $14.30 per share and merge LeCroy with Teledyne Scientific Co., the company’s R&D division.
Headquartered in Chestnut Ridge, N.Y., LeCroy builds and sells oscilloscopes, protocol analyzers and signal integrity test solutions and has approximately 500 employees worldwide. It reported 2011 sales of approximately $178.1 million.
“LeCroy will broaden our portfolio of analytical instrumentation businesses by adding a leader in electronic test and measurement solutions,” said Dr. Robert Mehrabian, chairman, president and CEO of Teledyne.
LeCroy will also use Teledyne’s Indium Phosphide (InP) process technology and ultra high frequency mixed signal design capabilities to surpass real-time bandwidth of 100GHz on its products.
Teledyne Technologies makes instrumentation, digital imaging products and software, aerospace and defense electronics and engineered systems with facilities the U.S., Canada, the U.K. and Mexico.
LeCroy Corp. makes serial data test solutions that measure, analyze and verify complex electronic signals.