“With our new partner’s platform of complementary technologies, we will be able to continue this trajectory, providing our employees, customers and stockholders even more exciting momentum for growth. Our Board fully supports this transaction, which delivers immediate value and the opportunity to participate in the upside potential of the combined company.”
Teledyne, which includes the e2v sensor division in the UK and France, saw sales of $800m in Q4 of 2020, bringing a total revenue of $3.1bn, less than half the value of the deal but a fraction of the current $13.4bn stock market valuation.
The Q4 figures were part of a bounce back after the initial Covd-19 pandemic. “During the third quarter, our shortest-cycle environmental and test and measurement instrumentation businesses experienced a rebound from the trough in the second quarter. With non-COVID healthcare procedures now increasing, we expect a similar recovery for our medical imaging businesses late in the fourth quarter,” said Mehrabian.
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