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Teledyne Technologies Inc. and Roper Technologies Inc. have entered into an agreement under which Teledyne will acquire the scientific imaging businesses of Roper for $225M in cash. Roper’s scientific imaging businesses include Princeton Instruments, Photometrics, Lumenera, and other brands.
Princeton Instruments and Photometrics manufacture state-of-the-art cameras, spectrographs, and optics for advanced research in physical sciences, life sciences, and spectroscopy imaging. Applications and markets include materials analysis, quantum technology, and cell biology imaging using fluorescence and chemiluminescence. Lumenera provides USB-based customized cameras for markets such as traffic management, as well as life sciences applications.
“These scientific imaging businesses have similar capabilities and are highly complementary to Teledyne’s products and markets,” said Robert Mehrabian, chairman and chief executive officer of Teledyne. “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.”
“Teledyne is an ideal home for our scientific imaging businesses, their customers, and our employees,” said Neil Hunn, Roper’s president and chief executive officer. “We are thankful for the contributions these businesses have made to Roper and we wish them continued success.”
The transaction is anticipated to close in the first quarter of 2019 and is subject to customary closing conditions, including regulatory approval.READ MORE