Teledyne completes acquisition of Dalsa; new name announced
February 14, 2011 by Manufacturing AUTOMATION
Teledyne Technologies Incorporated has completed the acquisition of Dalsa Corporation, following the approval of the Ontario Superior Court of Justice and satisfaction of the required conditions.
Teledyne has acquired all of the issued and outstanding Dalsa shares for $18.25 in cash for each share. The aggregate value for the transaction is approximately $337 million, taking into account Dalsa’s stock options and net cash as of December 31, 2010. In connection with the completion of the acquisition, Dalsa Corporation was amalgamated, with the resulting entity now named Teledyne Dalsa, Inc.
Teledyne is an electronics, instrumentation and engineering focused company with headquarters in Thousand Oaks, Calif. Teledyne Dalsa is a Waterloo, Ont.-based provider of high performance digital imaging and semiconductors.
Teledyne Dalsa CEO Brian Doody described what customers can expect from the amalgamated company: "Our goal is to build upon our 30-year heritage of developing the world’s leading high performance digital imaging and semiconductor solutions, and to accelerate our level of innovation. My senior executive team and I will continue to focus on R&D development, but also draw on the capabilities available to us as part of a larger organization. This will translate into products and technology that are truly innovative, adding even more value for our customers."