Teledyne to Acquire Canadian Firm

Teledyne Technologies Inc. in Thousand Oaks has entered into an agreement to acquire Canadian digital imaging firm DALSA Corporation for $336 million. The acquisition will further transform Teledyne Technologies, a provider of sophisticated electronic subsystems, instrumentation and communication products, into a “pure-play electronics, instrumentation and engineering focused company”, according to Robert Mehrabian, chairman, president and CEO of Teledyne. In line with this strategy, On Dec. 14 Teledyne announced plans to sell its general aviation piston engine business to Technify Motor (USA) LTD. Headquartered in Waterloo, Ontario, DALSA, which designs, develops, manufactures and markets digital imaging products and solutions, has 1,000 employees worldwide and 2010 revenues of approximately $198 million. “Teledyne and DALSA are each acknowledged leaders in digital imaging technology but our product lines and customer bases are almost entirely complementary,” said Mehrabian. For example, DALSA produces among the world’s most advanced visible light imaging sensors and cameras for commercial applications, while Teledyne produces extreme resolution infrared sensors and subsystems primarily for government applications, he explained. “The combined strengths of Teledyne’s and DALSA’s leading imaging technologies will allow us to develop new infrared and visible light products that serve our respective markets and customers.” Pursuant to the transaction, Teledyne will acquire all of the outstanding common shares of DALSA for CAD $18.25 per share payable in cash.