Teledyne Technologies Inc. has acquired the scientific imaging business of Roper Technologies Inc. in a deal valued at $225 million.
With this transaction, the Thousand Oaks aerospace, marine and energy products manufacturer gains products that have similar capabilities and are highly complementary to Teledyne’s existing products and markets.
Roper’s scientific imaging businesses include Princeton Instruments and Photometrics, which makes cameras and optics for physical and life sciences research; and Lumenera, which makes rugged customized cameras for traffic management and life sciences applications.
“Princeton Instruments and Photometrics will provide Teledyne new products serving life sciences customers and markets, while Teledyne will offer Lumenera greater opportunities in the industrial domain,” Chief Executive Robert Mehrabian said in a statement.
Teledyne announced the Roper deal on Wednesday. Shares of Teledyne (TDY) closed on Friday up 18 cents, or a fraction of a percent, to $196.33 on the New York Stock Exchange.