The acquisition of e2v is said by Teledyne to bring complementary products, additional technical resources and management capabilities, as well as strong positions in new markets.
Dr Robert Mehrabian, chairman, president and CEO of Teledyne, said:
“As both Teledyne and e2v evolved, our businesses have become increasingly aligned. In fact, every business within e2v is highly complementary to Teledyne. As important, there is minimal product overlap.”
Both companies supply technology to the space and astronomy imaging, microwave and defence sectors.
“In machine vision applications, e2v’s advanced capabilities in proprietary CMOS sensor design add to Teledyne’s strengths in cameras and vision systems. While Teledyne designs advanced mixed signal circuits for government and commercial applications, e2v’s broader product portfolio enhances our offerings and channels to market,” Dr Mehrabian added.
Noting that Teledyne had made a cash offer at an attractive premium, e2v chairman Neil Johnson commented: “The board has considered the merits of being part of a larger, complementary group with enhanced scale and a wider range of capabilities to service its key customers and management and employees having access to the opportunities available in a larger group. The board of e2v is therefore unanimously recommending … the acquisition.”