Insider Brief
- Teledyne Technologies has entered an agreement to acquire key aerospace and defense electronics businesses from Excelitas Technologies for $710 million in cash.
- The deal includes Excelitas’ Optical Systems business, operating under the Qioptiq® brand in North Wales, UK, and the U.S.-based Advanced Electronic Systems business.
- The acquisition is expected to positively impact Teledyne’s earnings per share, both on GAAP and non-GAAP bases, once transaction costs are excluded and is set to close in early 2025, pending regulatory approval.
Teledyne Technologies announced it has entered an agreement to acquire key aerospace and defense electronics businesses from Excelitas Technologies for $710 million in cash. The deal includes Excelitas’ Optical Systems (OS) business, operating under the Qioptiq® brand in North Wales, UK, and the U.S.-based Advanced Electronic Systems (AES) business. The acquisition is expected to close in early 2025, pending regulatory approval.
Excelitas’ OS business is known for its specialized optics used in heads-up and helmet-mounted displays, night vision systems, and space-grade glass for satellite applications. AES, meanwhile, focuses on advanced defense electronics, including electronic safe and arm devices, high-voltage semiconductor switches, and rubidium frequency standards—vital components in defense and space missions.
Teledyne’s Executive Chairman Robert Mehrabian highlighted the strategic fit of these acquisitions, noting that they complement Teledyne’s existing products and broaden its presence across defense and space markets in the U.S. and UK. Teledyne COO George Bobb echoed this sentiment, emphasizing the strong performance of Teledyne’s aerospace and defense electronics segment and compatibility with the new businesses’ culture and operations.
Doug Benner, EVP at Excelitas, expressed optimism about the merger, underscoring the continued development of electro-optical solutions for defense applications under Teledyne’s leadership.
Financially, the acquisition is expected to positively impact Teledyne’s earnings per share, both on GAAP and non-GAAP bases, once transaction costs are excluded.
Image credit: Teledyne Technologies
