WASHINGTON (dpa-AFX) - Teledyne Technologies (TDY) has entered into an agreement to acquire select aerospace and defense electronics businesses from Excelitas Technologies Corp. for $710 million in cash. The deal includes the Optical Systems business known under the Qioptiq brand as well as the U.S.-based Advanced Electronic Systems business. Teledyne expects the transaction to be accretive to GAAP and non-GAAP earnings per share, excluding transaction costs.
Headquartered in Pittsburgh, Pennsylvania, Excelitas is a provider of advanced, life-enriching technologies, serving global market leaders in the life sciences, advanced industrial, next-generation semiconductor, aerospace, and defense end markets.
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