Teledyne Technologies Inc. [TDY] Aug. 1 announced its subsidiary, Teledyne Limited, has entered into an agreement to acquire the Defense Electronics business of Filtronic PLC for about $25.7 million.
“The acquisition of Filtronic’s Defense Electronics business further expands Teledyne’s capabilities in defense microwave subsystems,” Robert Mehrabian, chairman, president and CEO, said. “This acquisition, which will add expertise in receiver subsystems and digital signal processing, is consistent with Teledyne’s strategy to provide more highly integrated microwave subsystems to our defense customers.”
In December 2003, Teledyne acquired certain assets of the U.S.-based Filtronic Solid State business for $12.0 million.
The Defense Electronics business, principally based in the United Kingdom, provides customized microwave subassemblies and integrated subsystems to the global defense industry.
The closing of the transaction, which is subject to various conditions, is anticipated to occur before the end of August.
The Defense Electronics business designs and manufactures a range of microwave products for radar, electronic support measures and electronic counter measures systems used to protect modern military platforms from hostile threats.
The business is recognized for delivering complex microwave receiver front-end subsystems, including Instantaneous Frequency Measurement (IFM) based subsystems and customized multifunction assemblies.
The Defense Electronics business had sales of about $28.6 million for its fiscal year ending May 31.
Teledyne Technologies is a leading provider of sophisticated electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems. Its operations are primarily located in the United States, the United Kingdom, and Mexico.