Blog Coverage Teledyne Acquired Imaging Sensor Developer E2V

Upcoming AWS Coverage on Keysight Technologies Post-Earnings Results

LONDON, UK / ACCESSWIRE / December 13, 2016 / Active Wall St. blog coverage looks at the headline from Teledyne Technologies Inc. (NYSE: TDY). The Company announced and E2V technologies plc, jointly announced on December 12, 2016, that they have entered an agreement where E2V would be acquired by the US-based tech giant by means of a Scheme of Arrangement. Under the terms of the acquisition, Teledyne will shell out approximately £620 million (about $786 million) and E2V’s shareholders will receive 275 pence cash for each E2V share they hold. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of Teledyne Technologies’ competitors within the Scientific & Technical Instruments space, Keysight Technologies, Inc. (NYSE: KEYS), reported on November 17, 2016, its financial results for the fourth fiscal quarter and fiscal year ended Oct. 31, 2016. AWS will be initiating a research report on Keysight Technologies in the coming days.

Today, AWS is promoting its blog coverage on TDY; touching on KEYS. Get all of our free blog coverage and more by clicking on the links below:

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The Two Companies

Teledyne is primarily a B2B service provider, where it provides enabling technologies for industrial growth markets. Teledyne, which was once an aerospace and defense oriented firm, now serves multiple markets through its diversified offerings. Be it space exploration, deepwater oil and gas exploration and production, air and water quality environmental monitoring, or factory automation. E2V Technologies is one of the leading imaging sensor developers. Based in the UK, E2V is involved in several programs, such as Airbus A380, Boeing airplanes, numerous NASA and European Space Agency missions (for example, Hubble Space Telescope upgrade project), US defense projects, etc. E2V employs more than 1,750 people across its 9 engineering locations and 6 sales offices, located across Europe, America, and Asia.

Teledyne’s portfolio expansion drive

Teledyne has probably set itself on the road to be the leader in industrial technology provider segment. It acquired CARIS business, a Canada-based firm, on May 4, 2016, for an undisclosed amount. CARIS primarily dealt in developing geospatial software designed for hydrographic and marine engineering segments. On November 2, 2016, Teledyne announced the acquisition of assets of IN USA, Inc. IN USA develops gas sensors and monitors which are designed to use across several industrial process applications. The acquisition of E2V is yet another attempt to bring potential competitors under Teledyne’s roof.

The complementary ventures

The acquisition of E2V by Teledyne is a clear indication that the two ventures, which would probably cross paths in the near future, are set to work together, to develop relevant solutions. Teledyne speculates that the proprietary CMOS sensor design from E2V would help expand its strengths in camera and vision systems. In the space research segment, both Teledyne and E2V are leaders, where Teledyne provides infrared detectors, while E2V is limited to visible light sensors. This attribute is visible in almost every segment, where E2V provides its products.

According to Robert Mehrabian, CEO and President of Teledyne:

“We have followed E2V for more than a decade. 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.”

Teledyne has already received acceptances from about 45% of its shareholders, and the firm’s board supports the acquisition. The transaction is expected to be completed in the first half of calendar 2017, where it is subject to regulatory approvals.

Stock Performance

On Monday December 12, 2016, Teledyne Technologies’ shares were marginally down 0.79%, finishing the day at $126.39 with volume of 410.06 thousand shares exchanging hands by the close of the trading session. The stock advanced 7.80% in the last month, 21.75% in the past three months, and 27.23% in the previous six months. Furthermore, on a year to date basis, the stock soared 42.49%. Shares of the company have a PE ratio of 23.01 and currently have a market cap of $4.47 billion.

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