Waterloo’s DALSA acquired for $341 Million

In September Waterloo’s DALSA Corporation denied that the company in discussions with respect to any strategic transaction, including a potential acquisition.

Looks like that claim wasn’t true for long.

This morning Teledyne Technologies announced that it will acquire DALSA Corporation for approximately CAD $341 million. Headquartered in Waterloo, the digital imaging and microelectromechanical systems company employs approximately 1,000 people worldwide and had sales of approximately CAD $201 million for the twelve months ended September 30, 2010.

California-based Teledyne Technologies designs and manufacturers electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems, primarily in the U.S., UK and Mexico.

According to the companies’, the company will change its name to Teledyne DALSA but will retain its existing locations and management team.