Teledyne Acquiring LeCroy

Teledyne Technologies Inc. and LeCroy Corp. have jointly announced their entrance into a definitive agreement stating that a wholly owned subsidiary of Teledyne will acquire all outstanding common shares of LeCroy for $14.30 per share, payable in cash.

The transaction’s aggregate value, which takes into account the company’s stock options, stock appreciation rights and net debt as of March 31, 2012, is approximately $291 million. The transaction was unanimously approved by both companies’ board of directors.

“LeCroy will broaden our portfolio of analytical instrumentation businesses by adding a leader in electronic test and measurement solutions,” said Dr. Robert Mehrabian, chairman, president and CEO of Teledyne. “I am excited about the potential for LeCroy to provide an ideal commercial outlet for our unique indium phosphide process technology and ultrahigh-frequency mixed signal design capabilities developed at Teledyne Scientific Co., our R&D laboratories.”

LeCroy supplies oscilloscopes, protocol analyzers and signal integrity test solutions.

Teledyne provides instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems.

For more information, visit: www.teledyne.com or www.lecroy.com