Monday, July 26, 2010

Teledyne Completes Intelek Buy

Thousand Oaks-based Teledyne Technologies Incorporated announced this morning that it has completed its acquisition of Intelek plc, a manufacturer of electronics systems for the satellite and microwave communications market. The deal was worth approximately $52M. Teledyne said that Intelek's Paradise Datacom division, which designs and manufactures satellite modems, transceivers, power amplifiers, and other components for the satellite communications market, becomes Teledyne Paradise Datacom. Intelek's Labtech division, a manufacturer of microwave circuits and components, becomes Teledyne Labtech. Intelek's CML Group, which manufactures precision machined and composite aerostructures for the military and commercial aircraft market becomes Teledyne CML Group.