BAESF - Teledyne Seeks Photonis Buy For Europe Imaging Tech
Quick Take
Teledyne Technologies (TDY) has confirmed that it has been in advanced talks to acquire Photonis International SAS for $550 million.
Photonis has developed a family of advanced photon and electron multipliers used in night vision technologies.
With the deal, TDY would add significant technology capabilities to several of its business segments while increasing its presence in Europe that is growing its defense spending.
TDY’s stock appears fully valued at its present level, so my bias is Neutral.
Target Company
Merignac, France-based Photonis was founded to design and manufacture a range of