Wednesday, June 16, 2010
Teledyne Technologies Buys Intelek plc
Thousand Oaks-bsaed Teledyne Technologies said late Tuesady evening that it is acquiring Swindon, United Kingdom-based INtelek plc, a firm which designs and manufactures electronics systems for satellite and microwave communications. The deal is worth approximately $52.0M. Intelek has divisions manufacturing satellite modems, transceivers, power amplifiers and other equipment, another developing microwave circuits and components, and a CML division manufacturing machined and composite aerostructures for the military and commercial aircraft market. As part of the deal, Teledyne said it would look to "strategic alternatives" for Intelek's CML division. Teledyne said the buy is expected to expand its capabilities in the microwave systems business.