Teledyne and e2v jointly announce the successful completion of the acquisition by Teledyne of e2v. The aggregate value for the transaction was approximately £627M (or approximately $789M) 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 £236M. Excluding transaction-related expenses, Teledyne management expects the transaction to be accretive to earnings per share.
“Every business within e2v is highly complementary to Teledyne and will contribute to our balanced portfolio of highly engineered products. From industrial machine vision to space-based imaging... our respective capabilities and engineering-centric cultures are truly a great fit,” said Robert Mehrabian, Chairman, President and CEO of Teledyne. “We are proud to continue e2v’s 70-year legacy of innovation and specialized high technology products. In addition, e2v adds greater critical mass and technical resources to Teledyne in key locations, including the United Kingdom; Grenoble, France; and Seville, Spain.”