Teledyne Technologies Completes Acquisition of LeCroy Corporation
August 06 2012 - 8:00AM
Business Wire
Teledyne Technologies Incorporated (NYSE:TDY) (“Teledyne”) and
LeCroy Corporation (NASDAQ:LCRY) (“LeCroy”) jointly announced today
the successful completion of the acquisition of LeCroy. At a
special meeting of stockholders held August 2, 2012, LeCroy
stockholders approved and adopted the Agreement and Plan of Merger
(the “Merger Agreement”), dated as of May 28, 2012, by and among
LeCroy, Teledyne and a wholly-owned subsidiary of Teledyne.
Pursuant to the transaction, effective August 3, 2012, Teledyne
acquired all of the outstanding common shares of LeCroy for $14.30
per share payable in cash. The aggregate value for the transaction,
excluding transaction costs, was approximately $291 million, taking
into account LeCroy’s stock options, stock appreciation rights and
net debt as of March 31, 2012.
Founded in 1964 and headquartered in Chestnut Ridge, N.Y.,
LeCroy is a leading supplier of oscilloscopes, protocol analyzers
and signal integrity test solutions with approximately 500
employees worldwide. For its fiscal year ended July 2, 2011, LeCroy
had sales of approximately $178.1 million. The acquired company
will now be included in Teledyne’s Instrumentation segment and
operate under the name Teledyne LeCroy, Inc.
About Teledyne Technologies
Teledyne Technologies is a leading provider of sophisticated
instrumentation, digital imaging products and software, aerospace
and defense electronics, and engineered systems. Teledyne
Technologies’ operations are primarily located in the United
States, Canada, the United Kingdom and Mexico. For more
information, visit Teledyne Technologies’ website at
www.teledyne.com.
About LeCroy Corporation
LeCroy Corporation is a worldwide leader in serial data test
solutions, creating advanced instruments that drive product
innovation by quickly measuring, analyzing and verifying complex
electronic signals. The Company offers high-performance
oscilloscopes, serial data analyzers and global communications
protocol test solutions used by design engineers in the computer,
semiconductor and consumer electronics, data storage, automotive
and industrial, telecommunications and military and aerospace
markets. LeCroy’s 48-year heritage of technical innovation is the
foundation for its recognized leadership in “WaveShape Analysis” -
capturing, viewing and measuring the high-speed signals that drive
today’s information and communications technologies. Company
information is available at www.lecroy.com.
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