A Canadian subsidiary of Teledyne Technologies Inc. has acquired a Dutch semiconductor company that makes high-performance integrated circuits for use in image-sensor and camera products.
Terms of the deal between Teledyne Dalsa B.V. and Axiom IC B.V., based in Enschede, the Netherlands, were not disclosed. Teledyne Dalsa, headquartered in Ontario, is owned by Teledyne Technologies of Thousand Oaks.
Axiom was founded in 2007 and is a spinoff from the University of Twente. Customers include global companies in the space systems, wireless communication, automotive and medical technology industries.
Teledyne DALSA makes high-performance digital-imaging equipment and semiconductors. It has about 1,000 employees worldwide.
Teledyne Chairman and Chief Executive Robert Mehrabian said the acquisition adds an innovative team of engineers to the company.
“While continuing to serve external customers, Axiom will provide additional resources to benefit both our digital-imaging and electronic-test and measurement-instrumentation businesses,” said Mehrabian , in a prepared statement.
Shares of Teledyne closed down 54 cents, or less than 1 percent, to $77.02 on the New York Stock Exchange.