By Colin Kellaher
Teledyne Technologies has struck a deal to buy certain aerospace and defense-electronics businesses from private-equity owned Excelitas Technologies for $710 million in cash.
Teledyne on Wednesday said the acquisition includes a U.K.-based optical systems business known under the Qioptiq brand that provides advanced optics for heads-up and helmet-mounted displays, dismounted tactical night vision systems and proprietary glass used in space and satellite applications.
The Thousand Oaks, Calif., provider of electronic and communication products said the deal also includes a U.S.-based business that provides custom energetics, including electronic safe and arm devices, high-voltage semiconductor switches and rubidium frequency standards for defense and space applications.
Teledyne said it expects to complete the acquisition early next year.
New York private-equity firm AEA Investors acquired Excelitas in 2017.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 06, 2024 09:35 ET (14:35 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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