30 May 2012
Teledyne Technologies to acquire LeCroy
Teledyne Technologies has signed a definitive agreement to acquire LeCroy and merge it with a wholly owned subsidiary. The cash deal is said to be worth $291million.
"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. " I am excited about the potential for LeCroy to provide an ideal commercial outlet for our indium phosphide process technology and ultra high frequency mixed signal design capabilities developed at Teledyne Scientific, our R&D laboratories."
For its 2011 fiscal year, oscilloscopes, protocol analyzers and signal integrity test solutions supplier LeCroy reportedly had sales of approximately $178.1 million.
"This transaction provides a substantial premium for our shareholders and provides exciting opportunities for our customers and employees," said Thomas Reslewic, president, ceo and director of LeCroy. "We believe Teledyne can help us accelerate our high end oscilloscope programs to deliver real-time bandwidth well beyond 100GHz by using Teledyne's leading InP technology."
"Furthermore, through a combination of Teledyne's microwave and mixed signal design capabilities with LeCroy's signal processing expertise, as well as our respective market channels, we envision growing our markets and adding new products such as signal generators and multi function instruments," he added.
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