Teledyne Technologies Buys Roper Assets
Thousand Oaks, CA and Sarasota, FL 12/19/18—Teledyne Technologies, a provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems, has entered into an agreement to acquire Roper Technologies’ Scientific Imaging business for $225 million in cash. Brands to be acquired include Princeton Instruments, Photometrics and Lumenera, and others. The Scientific Imaging business provides imaging solutions, including cameras and spectrographs, for life sciences, academic research and industrial imaging. “These Scientific Imaging businesses have similar capabilities and are highly complementary to Teledyne’s products and markets,” stated Teledyne Chairman and CEO Robert Mehrabian. “Princeton Instruments and Photometrics will provide Teledyne new products serving life sciences customers and markets, while Teledyne will offer Lumenera greater opportunities in the industrial domain.” The acquisition is expected to close in the first quarter of next year.
The Scientific Imaging business sells instrument components, including CCD and CMOS cameras, and includes an OEM business. The businesses that will be acquired are part of Roper Technologies’ $1.4 billion Medical and Scientific Imaging unit, which has evolved in recent years to concentrate on the medical business through acquisitions of medical and clinical software companies. Earlier this year, Roper announced plans to sell its Gatan business, also part of the unit, to Thermo Fisher Scientific (see IBO 6/30/18).