Mergers & Acquisitions

Select Aerospace and Defense Electronics Businesses of Excelitas Acquired by Teledyne

6394 Excelitas Technologies Corp NT

M&A Engagement Overview

Industry Group: Aerospace, Defense & Government Services
Area of Focus: Defense Electronics  

Harris Williams advised Excelitas Technologies Corp. on the sale of select aerospace and defense electronics businesses to Teledyne Technologies Incorporated, a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems, for $710 million in cash. Excelitas is a leading provider of advanced, life-enriching technologies and serves global market leaders in the life sciences, advanced industrial, next-generation semiconductor, aerospace, and defense end markets.  

Defense budgets across nearly all U.S. Allies are supporting new and sustained levels of technology procurement, and as a result we are seeing heightened interest for investment opportunities in defense beyond the U.S. market. With Teledyne's strong existing customer relationships in the U.S., Europe, and APAC, Excelitas' aerospace and defense electronics businesses will be a key enabler to numerous countries as they seek to increase security cooperation and improve capabilities.

The sale included the Optical Systems (OS) business known under the Qioptiq® brand based in Northern Wales, U.K., as well as the U.S.-based Advanced Electronic Systems (AES) business. The OS business provides advanced optics for heads-up and helmet-mounted displays, dismounted tactical night vision systems, and proprietary glass used in space and satellite applications. The AES business provides custom energetics, including electronic safe and arm devices, high-voltage semiconductor switches, and rubidium frequency standards for defense and space applications.  

Teledyne’s and Excelitas’ aerospace and defense electronics businesses' products and geographies are highly complementary, and the businesses' operations, personnel, and culture are very compatible. This acquisition brings new opportunities to Teledyne and benefits the company’s customers, employees, and stakeholders.   

Contact the Harris Williams Aerospace, Defense & Government Services Group to learn more about this client engagement. 

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