Friday, August 1, 2008
Teledyne Buys Defense Electronics Firm
Thousand Oaks-based Teledyne Technologies said Friday that it is in an agreement to acquire the defense electronics business of Filtronic PLC. The deal is worth approximately $25.7M. Filtronic PLC's Defense Electronics business develops microwave subassemblies and integrated subsystems to the defense industry; those components are used in radar, electronic support, and electronic counter measures systems. According to Teledyne, the Defense Electronics business of Filtronic had revenues of approximately $28.6M US in its fiscal year, ended May 31.