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Satnews Daily
March 29th, 2017

e2v Technologies Acquisition by Teledyne Technologies Is Now Completed

Teledyne Technologies Incorporated (NYSE:TDY) (“Teledyne”) and e2v technologies plc (“e2v” ) have successfully completed the previously announced acquisition by Teledyne of e2v by means of a Scheme of Arrangement.

For the machine vision market, e2v provides high performance image sensors and custom camera solutions and application specific standard products. In addition, e2v provides high performance space qualified imaging sensors and arrays for space science and astronomy. e2v also produces components and subsystems that deliver high reliability radio frequency power generation for healthcare, industrial and defense applications. Finally, the company provides high reliability semiconductors and board-level solutions for use in aerospace, space and communications applications.

The aggregate value for the transaction, excluding transaction costs, was approximately £627 million (or approximately $789 million) taking into account e2v stock options and net debt as of September 2016. For the year ended March 31, 2016, e2v had sales of approximately £236 million. Excluding transaction-related expenses, Teledyne management expects the transaction to be accretive to earnings per share.

Bank of America, N.A and Merrill Lynch, Pierce, Fenner & Smith Incorporated participated in financing activities related to the transaction.

Teledyne is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies’ operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe.