Teledyne to buy high-end image-sensor supplier e2v

£620 million deal will combine complementary space-imaging and machine-vision product lines, says Teledyne CEO.

Teledyne Technologies (Thousand Oaks, CA; NYSE:TDY) and e2v technologies (Chelmsford, England; LSE:E2V.L) have come to an agreement in which Teledyne will acquire e2v for about £620 million (US $789 million), in a deal to be completed in the first half of 2017. Teledyne DALSA (Waterloo, ON, Canada), a subsidiary of Teledyne technologies, is well-known in the photonics field for its imaging products.

For space science and astronomy, e2v provides high-performance space-qualified imaging sensors and arrays; some example satellites containing e2v hardware include the Gaia Milky Way mapping satellite, the European Space Agency's Sentinel 4 Earth atmospheric-mapping satellite, the NigeriaSat-2 Earth observation satellite, NASA's National Polar-orbiting Operational Environmental Satellite System Preparatory Project (NPP), and the Geostationary Operational Environmental Satellite (GOES-N), among others.

e2v also provides image sensors and products for the machine-vision market, and numerous non-photonic components and subsystems for healthcare, industry, and defense applications.

"We have followed e2v for more than a decade,” says Robert Mehrabian, chairman, president, and CEO of Teledyne. “Over time, as both Teledyne and e2v evolved, our businesses have become increasingly aligned. In fact, every business within e2v is highly complementary to Teledyne. As important, there is minimal product overlap. For example, we are both leaders in space and astronomy imaging, but Teledyne largely provides infrared detectors and e2v provides visible light sensors." He adds, "In machine-vision applications, e2v’s advanced capabilities in proprietary CMOS sensor design add to Teledyne’s strengths in cameras and vision systems."

For the year ended March 31, 2016, e2v had sales of £236 million.

For more info on e2v, see www.e2v.com.

Source: http://www.businesswire.com/news/home/20161212005364/en/Teledyne-Acquire-e2v

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