Strengthening its portfolio in critical sectors like defence and space, Teledyne Technologies will acquire Excelitas’ aerospace and defence businesses for $710 million, closing in 2025.
On Wednesday, US-based Teledyne Technologies announced its agreement to acquire select aerospace and defence electronics businesses from another American company, Excelitas Technologies, for approximately $710 million in cash.
The deal is anticipated to be finalised in early 2025, contingent upon receiving the necessary regulatory approvals and meeting other customary closing conditions typically required for transactions of this nature.
The acquisition includes Excelitas’ optical systems business, operating under the Qioptiq brand in North Wales, U.K., as well as its U.S.-based advanced electronics systems (AES) business, which specialises in electronic safe and arm devices, rubidium frequency standards, high-voltage semiconductor switches, and other custom energetics for defence and space applications.
Teledyne’s executive chairman, Robert Mehrabian, expressed excitement over the acquisition, highlighting the complementary nature of both companies’ products and their shared customer base in similar geographies, which will create significant synergies.
According to George Bobb, Teledyne’s president and COO, the acquired businesses will be integrated into Teledyne’s aerospace and defence electronics segment, further expanding its portfolio.
In this transaction, Evercore and Harris Williams are providing financial advisory services to Excelitas, while Fried, Frank, Harris, Shriver & Jacobson serve as the company’s legal counsel. McGuireWoods is representing Teledyne as its legal adviser.
