TELEDYNE acquisition history

FLIR Systems, headquartered in Arlington, Virginia, is a leading designer and manufacturer of thermal imaging, infrared cameras, sensors and sensor systems. At closing FLIR was folded into Teledyne's Digital Imaging segment and renamed Teledyne FLIR. Teledyne secured permanent cash financing at a weighted-average borrowing cost of less than two percent; net leverage at closing was expected near 4.0x adjusted pro forma EBITDA, declining below 3.0x by the end of 2022. approximately $8.2 billion including net debt ($28.00 cash + 0.0718 Teledyne shares per FLIR share; ~$57.40 per share implied at close; ~$8.0 billion at announcement).

At the core of both our companies is proprietary sensor technologies. Our business models are also similar: we each provide sensors, cameras and sensor systems to our customers. However, our technologies and products are uniquely complementary with minimal overlap, having imaging sensors based on different semiconductor technologies for different wavelengths.Robert Mehrabian — Executive Chairman, Teledyne Technologies (January 4, 2021)

FLIR's commitment to innovation spanning multiple sensing technologies has allowed our company to grow into the multi-billion-dollar company it is today. With our new partner's platform of complementary technologies, we will be able to continue this trajectory.Earl Lewis — Chairman, FLIR Systems

e2v technologies plc, headquartered in Chelmsford, U.K., provides high-performance image sensors and custom camera solutions for the machine vision market, space-qualified imaging sensors and arrays for space science and astronomy, high-reliability RF power generation components for healthcare, industrial and defense, and high-reliability semiconductors and board-level solutions for aerospace, space and communications. For the year ended March 31, 2016, e2v had sales of approximately GBP 236 million. approximately GBP 627 million (approximately $789 million), including e2v stock options and net debt as of September 2016.

Every business within e2v is highly complementary to Teledyne and will contribute to our balanced portfolio of highly engineered products. From industrial machine vision to space-based imaging, microwave devices spanning radar to radiotherapy, and specialty semiconductors through micro electro-mechanical systems, our respective capabilities and engineering-centric cultures are truly a great fit.Robert Mehrabian — Chairman, President and CEO, Teledyne Technologies (March 28, 2017)

Teledyne acquired select aerospace and defense electronics businesses of Excelitas Technologies Corp., comprising the Optical Systems (OS) business based in Northern Wales, U.K., and the U.S.-based Advanced Electronics Systems (AES) business, collectively referred to as Qioptiq. The acquisition was funded from available borrowings on Teledyne's credit facility and cash on hand. approximately $702.8 million in cash, net of cash acquired (subject to certain adjustments).

During the first quarter of 2025, the Company acquired select aerospace and defense electronics businesses of Excelitas Technologies Corp. for approximately $702.8 million in cash, net of cash acquired, and subject to certain adjustments. The acquisition includes the OS business which is based in Northern Wales, UK, as well as the U.S.-based AES business (collectively, Qioptiq).Teledyne FY2025 10-K (filed Feb 20 — 2026), Note 3 Business Acquisitions

DALSA Corporation, headquartered in Waterloo, Ontario, Canada, is an international leader in high-performance digital imaging and microelectromechanical systems (MEMS) with approximately 1,000 employees worldwide. Established in 1980, DALSA designs, develops, manufactures and markets digital imaging products including high-resolution CCD and CMOS imaging sensors, electronic digital cameras and image-processing software for industrial machine vision, advanced medical imaging and high-resolution aerial and satellite imagery, plus custom MEMS products. approximately CAD $341 million at announcement (CAD $18.25 per share; ~CAD $337 million at close, including stock options and net cash).

Teledyne Technologies Incorporated (NYSE: TDY) and DALSA Corporation (TSX: DSA) jointly announced today that they have entered into a definitive agreement that provides for the acquisition of DALSA Corporation by a wholly-owned subsidiary of Teledyne. Pursuant to the transaction, Teledyne will acquire all of the outstanding common shares of DALSA for CAD $18.25 per share payable in cash.Teledyne / DALSA joint press release — December 22, 2010

LeCroy Corporation, founded in 1964 and headquartered in Chestnut Ridge, New York, is a leading supplier of oscilloscopes, protocol analyzers and signal-integrity test solutions with approximately 500 employees worldwide. For its fiscal year ended July 2, 2011, LeCroy had sales of approximately $178.1 million. approximately $291 million ($14.30 per share in cash), including stock options, SARs and net debt as of March 31, 2012.

LeCroy will broaden our portfolio of analytical instrumentation businesses by adding a leader in electronic test and measurement solutions. We are particularly impressed with LeCroy's strength in the market for high-performance oscilloscopes.Robert Mehrabian — Chairman, President and CEO, Teledyne Technologies (May 29, 2012)

The gas and flame detection business carved out of 3M includes the Oldham, Simtronics, Gas Measurement Instruments (GMI), Detcon and select Scott Safety product brands. It provides fixed and portable industrial gas and flame detection instruments used across petrochemical, power generation, oil and gas, food and beverage, mining and waste-water treatment markets, with over 100 years of combined industry experience. $230 million in cash.

The gas and flame detection business utilizes similar technology and serves related markets as our portfolio of environmental instrumentation businesses. However, our respective products do not compete and we generally serve customers in complementary geographies. This business will become a long-term core business of Teledyne.Robert Mehrabian — Executive Chairman, Teledyne Technologies (June 5, 2019)

We are excited to welcome this new core business and its employees to Teledyne. We have now completed two corporate carve-out acquisitions in 2019, and we closed each transaction within two months of announcement.Robert Mehrabian — Executive Chairman, Teledyne Technologies (August 1, 2019)

Teledyne acquired the Scientific Imaging businesses of Roper Technologies, including Princeton Instruments, Photometrics and Lumenera, among other brands. The businesses provide imaging solutions primarily for life sciences, academic research and customized OEM industrial imaging. Princeton Instruments and Photometrics make cameras, spectrographs and optics for physical and life-sciences research and spectroscopy imaging; Lumenera primarily provides rugged USB-based custom cameras for markets such as traffic management and life sciences. $225 million in cash.

These Scientific Imaging businesses have similar capabilities and are highly complementary to Teledyne's products and markets. Teledyne is a company committed to science and discovery. Princeton Instruments and Photometrics will provide Teledyne new products serving life sciences customers and markets, while Teledyne will offer Lumenera greater opportunities in the industrial domain.Robert Mehrabian — Chairman and CEO, Teledyne Technologies (December 19, 2018)

Teledyne is an ideal home for our Scientific Imaging businesses, their customers and our employees.Neil Hunn — President and CEO, Roper Technologies

Rockwell Scientific Company, headquartered in Thousand Oaks, California, is a leading provider of research and development services and a leader in developing and manufacturing infrared and visible-light imaging sensors for surveillance applications. It was 50 percent owned by each of Rockwell Automation and Rockwell Collins and, post-acquisition, operates under the names Teledyne Scientific Company and Teledyne Imaging Sensors. For its fiscal year ended September 30, 2005, Rockwell Scientific had revenue of $114 million. $167.5 million in cash (sellers retaining certain liabilities).

Teledyne Technologies Incorporated (NYSE: TDY) announced today that it has completed its acquisition of Rockwell Scientific Company LLC for $167.5 million in cash, with the sellers retaining certain liabilities. Rockwell Scientific will operate under the names Teledyne Scientific Company and Teledyne Imaging Sensors.Teledyne Technologies press release — September 18, 2006

Benthos, Inc. (Nasdaq: BTHS) was acquired by Teledyne following shareholder approval at a special meeting held January 27, 2006. Teledyne paid $17.50 in cash per Benthos common share, with aggregate consideration of approximately $40.6 million including settlement of outstanding stock options (approximately $31.1 million net of Benthos' cash). Teledyne funded the acquisition primarily from borrowings under its $280 million credit facility. approximately $40.6 million ($17.50 per share in cash; ~$31.1 million net of Benthos cash at Sept 30, 2005).

Teledyne Technologies Incorporated (NYSE: TDY) announced today that it has completed its acquisition of Benthos, Inc. (Nasdaq: BTHS) following the requisite approval of Benthos' shareholders at a special meeting held on January 27. Under the terms of the transaction, Teledyne will pay $17.50 in cash per common share of Benthos.Teledyne Technologies press release — January 30, 2006

Teledyne, through its subsidiary Teledyne Instruments, agreed to acquire a majority interest in Ocean Design, Inc. (ODI) for approximately $30 million. ODI, headquartered in Daytona Beach, Florida, is a leading manufacturer of subsea, wet-mateable electrical and fiber-optic interconnect systems used in offshore oil and gas production, oceanographic research and military applications. The agreement provided ODI stockholders options to sell remaining shares to Teledyne at formula-determined prices through 2009. approximately $30 million (initial majority interest; remaining shares subject to formula-based purchases through 2009).

Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Instruments, Inc., has entered into an agreement to acquire a majority interest in Ocean Design, Inc. (ODI) for approximately $30 million. ODI is a leading manufacturer of subsea, wet-mateable electrical and fiber-optic interconnect systems used in offshore oil and gas production, oceanographic research, and military applications.Teledyne Technologies press release — August 1, 2006

Teledyne acquired the TransponderTech business, headquartered in Linkoping, Sweden, from Saab AB. TransponderTech provides a portfolio of connected commercial maritime products including Automatic Identification System (AIS), Very High Frequency Data Exchange System (VDES) and Global Navigation Satellite System (GNSS) technologies. approximately $57.9 million in cash, net of cash acquired.

During the fourth quarter of 2025, the Company acquired the TransponderTech business headquartered in Linkoping, Sweden from Saab AB for approximately $57.9 million in cash, net of cash acquired. The TransponderTech business includes a portfolio of connected commercial maritime products, including Automatic Identification System, Very High Frequency Data Exchange System and Global Navigation Satellite System technologies.Teledyne FY2025 10-K (filed Feb 20 — 2026), Note 3 Business Acquisitions

Micropac Industries, founded in 1963 and headquartered in Garland, Texas, designs and manufactures microelectronic circuits, optoelectronic components and sensor and display assemblies primarily for military, aerospace and medical applications. The acquisition was funded from cash on hand. approximately $51.2 million in cash, net of cash acquired.

During the first quarter of 2025, the Company acquired Micropac Industries, Inc. ("Micropac") for approximately $51.2 million in cash, net of cash acquired. Micropac, founded in 1963 and headquartered in Garland, Texas, designs and manufactures microelectronic circuits, optoelectronic components and sensor and display assemblies primarily for military, aerospace and medical applications.Teledyne FY2025 10-K (filed Feb 20 — 2026), Note 3 Business Acquisitions

Adimec Holding B.V., founded in 1992 and headquartered in Eindhoven, Netherlands, develops customized high-performance industrial and scientific cameras. $88.7 million in cash, net of cash acquired (subject to adjustments).

During the second quarter of 2024, the Company acquired Adimec Holding B.V. and its subsidiaries ("Adimec") for $88.7 million in cash, net of cash acquired, and subject to certain adjustments. Adimec, founded in 1992 and headquartered in Eindhoven, Netherlands, develops customized high-performance industrial and scientific cameras.Teledyne FY2025 10-K (filed Feb 20 — 2026), Note 3 Business Acquisitions

Valeport, founded in 1969 and headquartered in Totnes, UK, designs and manufactures underwater sensors for environmental, energy, construction and defense applications. $35.0 million in cash, net of cash acquired (subject to adjustments).

During the second quarter of 2024, the Company acquired Valeport Holdings 2019 Limited and its affiliates ("Valeport") for $35.0 million in cash, net of cash acquired, subject to certain adjustments. Valeport, founded in 1969 and headquartered in Totnes, UK, designs and manufactures underwater sensors for environmental, energy, construction and defense applications.Teledyne FY2025 10-K (filed Feb 20 — 2026), Note 3 Business Acquisitions

Xena Networks, headquartered in Denmark, is a leading provider of high-speed terabit ethernet validation, quality assurance and production test solutions. $24.2 million in cash, net of cash acquired (subject to adjustments).

During the fourth quarter of 2023, the Company acquired Xena Networks ApS and affiliates ("Xena Networks") for $24.2 million in cash, net of cash acquired, and subject to certain adjustments. Xena Networks, headquartered in Denmark, is a leading provider of high-speed terabit ethernet validation, quality assurance, and production test solutions.Teledyne FY2025 10-K (filed Feb 20 — 2026), Note 3 Business Acquisitions

ChartWorld, headquartered in Cyprus with additional locations in Germany, Singapore, Canada and Japan, is a provider of digital marine navigation hardware and software delivered through an affordable subscription-based model. $53.5 million in cash, net of cash acquired (subject to adjustments).

During the first quarter of 2023, the Company acquired ChartWorld International Limited and affiliates ("ChartWorld") for $53.5 million in cash, net of cash acquired, and subject to certain adjustments. ChartWorld, headquartered in Cyprus, with additional locations in Germany, Singapore, Canada and Japan, is a provider of digital marine navigation hardware and software provided through an affordable subscription-based model.Teledyne FY2025 10-K (filed Feb 20 — 2026), Note 3 Business Acquisitions

DD-Scientific, founded in 2011 and headquartered in Fareham, UK, develops and manufactures high-performance gas sensors for critical applications in industries including industrial safety, healthcare and environmental compliance. approximately $53.0 million in cash, net of cash acquired (subject to adjustments).

In the first quarter of 2026, the Company acquired DD-Scientific Holdings Limited and its subsidiary DD-Scientific Limited (together, "DD-Scientific") for approximately $53.0 million in cash, net of cash acquired and subject to certain adjustments. DD-Scientific, founded in 2011 and headquartered in Fareham, UK, develops and manufactures high-performance gas sensors for critical applications.Teledyne FY2025 10-K (filed Feb 20 — 2026), Note 3 Business Acquisitions