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Teledyne To Acquire U.K. Microwave Electronics Firm

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Teledyne Technologies Inc. [TDY] yesterday said it has agreed to acquire Britain's Intelek plc for $52 million, including stock options, net and pension debt, to expand its capabilities in microwave electronic systems and components. The cash value of the deal is $41.4 million. "The operations of Intelek are highly complementary with Teledyne's existing microwave business," Robert Mehrabian, Teledyne's chairman, president and CEO, said in a statement. "In particular, Paradise Datacom's high power solid state amplifiers and modems for commercial customers…

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