WASHINGTON (dpa-AFX) - Teledyne Technologies Inc. (TDY) announced on Monday that it has agreed to buy Varex Imaging Corp. (VREX) for $18.90 per share in cash, valuing the deal at about $1.1 billion, including debt and equity awards as of April 3, 2026. The transaction was unanimously approved by both boards.
Varex pioneered X-ray sources and digital X-ray detectors and also supplies high-voltage interconnects and imaging software to global OEMs. Its X-ray tubes, flat panel and photon counting detectors are used in medical diagnostic imaging, non-destructive inspection, security and vehicle inspection systems.
The deal is expected to close in early 2027.
Varex Imaging shares rose 49.90 percent to $18.60 in pre-market trading on the Nasdaq, after ending Friday's regular session 1.31 percent higher.
In pre-market activity on the NYSE, shares of Teledyne were up 1.04 percent, changing hands at $698.50, after closing Friday's regular session 0.55 percent higher.
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