Thousand Oaks-based Teledyne Technologies plans to acquire Canada-based DALSA for $335 million. Recently, they have traded their Mobile-based Continental Motors firm to AVIC International Holding in China for $186 million.
This acquisition will enhance Teledyne’s sensors and digital imaging technology solutions. DALSA develops highly receptive sensing units and imagers for visible light, whereas Teledyne fabricates infrared sensing devices. According to Teledyne, the blending of these technologies will produce novel solutions as well as facilitate the sensor market. Robert Mehrabian, Chairman and Chief Executive, stated that by procuring DALSA and the divestiture of Teledyne Continental Motors, the company will be converted into instrumentation, pure-play electronics, and engineering.
The company’s recommendations for the Waterloo, Ontario, company account for a premium of 27.7 % over DALSA's current average stock market in the Toronto Stock Exchange. Those possessing 34.7 % of shares have already consented to the purchase. The deal requires two-thirds authorization and regulatory certifications under Ontario law. The deal is likely to be accomplished in February.
Source: http://www.teledyne.com