A military technology company based in Ventura County has announced plans to buy an East Coast based electronic test equipment maker, for close to $300 million dollars.
Teledyne Technologies of Thousand Oaks has made a $291 million dollar deal to acquire the LeCroy Corporation, in Chestnut Ridge, New York. LeCroy makes oscilloscopes, and other testing gear. The company had more than $178 million dollars in sales the last fiscal year.
Teledyne is offering $14.30 a share for LeCroy, plus another $50 million dollars in payments to cover things like stock options. Company officials say the purchase would allow them to broaden the array of electronics testing equipment in their portfolio.