Teledyne buys Princeton, Photometrics and Lumenera
Teledyne Technologies has acquired the scientific imaging businesses of Roper Technologies, including Princeton Instruments, Photometrics and Lumenera, as well as other brands. Teledyne paid $225 million in cash for the companies.
The deal adds imaging solutions, primarily for the life sciences and academic research, to Teledyne’s already strong portfolio of imaging products. Teledyne bought British image sensor and semiconductor firm, e2v, at the end of 2016, and purchased Dalsa in 2011.
Princeton Instruments and Photometrics manufacture cameras, spectrographs and optics for advanced research in physical sciences, life sciences research and spectroscopy imaging. Applications and markets include materials analysis, quantum technology and cell biology imaging using fluorescence and chemiluminescence.
Lumenera provides USB-based cameras for markets such as traffic management, as well as life sciences applications.
‘These scientific imaging businesses have similar capabilities and are highly complementary to Teledyne’s products and markets,’ said Robert Mehrabian, chairman and CEO of Teledyne. ‘Princeton Instruments and Photometrics will provide Teledyne new products serving life sciences customers and markets, while Teledyne will offer Lumenera greater opportunities in the industrial domain.’
The transaction is anticipated to close in the first quarter of 2019, and is subject to customary closing conditions, including regulatory approval.