NEWS
Tags: 

Teledyne completes £627m e2v acquisition

US-based Teledyne Technologies has completed its £627 million cash acquisition of British firm e2v. The purchase was first announced in December 2016.

The value of the transaction, excluding transaction costs, takes into account e2v’s stock options and net debt as of September 2016. Excluding transaction-related expenses, Teledyne management expects the transaction to be accretive to earnings per share.

‘Every business within e2v is highly complementary to Teledyne and will contribute to our balanced portfolio of highly engineered products,’ commented Robert Mehrabian, chairman, president and CEO of Teledyne. ‘From industrial machine vision to space-based imaging, microwave devices spanning radar to radiotherapy, and specialty semiconductors through micro electro-mechanical systems, our respective capabilities and engineering-centric cultures are truly a great fit. 

‘We are proud to continue e2v’s 70-year legacy of innovation and specialised high technology products. In addition, e2v adds greater critical mass and technical resources to Teledyne in key locations, including the United Kingdom; Grenoble, France; and Seville, Spain.’

E2v employs approximately 1,750 people and has annual sales of £236 million. It supplies RF power, imaging, and semiconductor solutions, serving markets including aerospace, security, defence, space, medical and science, and industrial.

‘We have followed e2v for more than a decade. Over time, as both Teledyne and e2v evolved, our businesses have become increasingly aligned.’ Mehrabian commented back when the acquisition was initially announced. ‘In fact, every business within e2v is highly complementary to Teledyne. As important, there is minimal product overlap. For example, we are both leaders in space and astronomy imaging, but Teledyne largely provides infrared detectors and e2v provides visible light sensors.’

Teledyne supplies sophisticated instrumentation, digital imaging products and software, aerospace and defence electronics, and engineered systems. The company’s operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. 

Teledyne's total sales fell 6.2 per cent in 2016 to $2,139.8 million; its net income from continuing operations reduced 2.6 per cent to $192.9 million for the fiscal year 2016.

Previous company news:

Teledyne imaging sales up; e2v approves Teledyne offer
Teledyne completes Dalsa acquisition
E2v acquires CMOS company AnaFocus for €34.2m
E2v sells thermal imaging business for £3.5 million

Other tags: 
Twitter icon
Google icon
Del.icio.us icon
Digg icon
LinkedIn icon
Reddit icon
e-mail icon
Feature

Matthew Dale explores how thermal imaging can be used to avoid machine failure and emergency maintenance in industrial environments

Feature

Rob Ashwell examines how advances in medical imaging are aiding earlier diagnosis and robotic surgery

Feature

Boaz Arad, a researcher at the Interdisciplinary Computational Vision Lab, Ben-Gurion University of the Negev, and winner of the EMVA Young Professional Award 2017

Feature

Greg Blackman finds that advances in LEDs and greater illumination control are furthering machine vision lighting

Feature

Greg Blackman speaks to Guy Lavi at Israeli firm Volume Elements, a company that specialises in developing vision algorithms