THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Teledyne Technologies Incorporated (NYSE:TDY) ("Teledyne") announced today that it has entered into an agreement to acquire Adimec Holding B.V. and its subsidiaries ("Adimec"). Adimec, founded in 1992 and headquartered in Eindhoven, Netherlands, develops customized high-performance industrial and scientific cameras for applications where image quality is of paramount importance.
"Adimec possesses uniquely complementary technology, products and customers in the shared strategic focus areas of healthcare, global defense, and semiconductor and electronics inspection," said Edwin Roks, Chief Executive Officer of Teledyne. "For decades and from our own X-ray imaging business headquartered in Eindhoven, I have watched Adimec grow to become a leader in niche applications requiring truly accurate images for precise decision making in time-critical processes."
Joost van Kuijk, Adimec's Chief Executive Officer, commented, "It is with great pleasure that we are able to announce publicly that Adimec will become part of Teledyne. Adimec's success has always been built on ensuring imaging excellence in demanding applications through an unwavering focus on individual customer requirements by our expert engineers and designers."
Adimec co- Chief Executive Officer, Alex de Boer added, "As a leader in advanced imaging technologies for industrial and scientific markets, Teledyne is the perfect company to build further on the strong foundation the founders and management have established over the past three decades. The entire Adimec team is looking forward to contributing to an exciting future with Teledyne while extending technical boundaries to support our customers with cameras - perfectly optimized to their application needs."
Teledyne is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. Teledyne's operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne's website at www.teledyne.com.
Forward-Looking Statements Cautionary Notice
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to a pending acquisition of a company subject to customary closing conditions and approvals. Actual results could differ materially from these forward-looking statements. Many factors, as well as market and economic conditions beyond either company's control, could change anticipated results. There are additional risks associated with operating businesses internationally, including those arising from United States and foreign government policy and regulatory changes or actions and exchange rate fluctuations.