Tuesday, May 29, 2012
Teledyne Technologies Buys LeCroy
Thousand Oaks-based Teledyne Technologies announced this morning that it is acquiring New York-based instrumentation and measurement firm LeCroy, in a deal worth $291M. According to the two, Teledyne will pay $14.30 per share in cash for LeCroy. LeCroy is a maker of oscilloscopes, serial data analyzers, and other scientific equipment. The two said that LeCroy will become a wholly owned subsidiary of Teledyne. LeCroy was advised by Stifel Nicolaus Weisel, Bingham McCutchen LLP and Fish & Richardson in the deal, with Teledyne's advisors being Needham & Company and McGuireWoods LLP. The two said that LeCroy had sales of approximately $178.1M for the year ended July 2, 2011.