Thursday, July 27, 2006
Teledyne Buys Rockwell Scientific for $167.5M
Los Angeles-based Teledyne Technologies said today that it is acquiring Thousand Oaks-based Rockwell Scientific Company, for $167.5M. Rockwell Scientific provides research and development services, and infrared and visible light imaging sensors, and is co-owned by Rockwell Automation and Rockwell Collins. Teledyne said that Rockwell Automation and Rockwell Collins have entered into service agreements to continue funding research performed by Rockwell Scientific. The companies reported that Rockwell Scientific had revenues of $114M in its fiscal year ending September 30th. Rockwell Automation and Rockwell Collins were advised by JPMorgan Securities in the deal.