TELEDYNE TECHNOLOGIES INC acquired Benthos, Inc. for approximately $40.6 million ($17.50 per share in cash; ~$31.1 million net of Benthos cash at Sept 30, 2005), a transaction completed in January 2006, structured as all cash.
Benthos, Inc. operates in Instrumentation (marine), is based in United States. Benthos is a marine technology specialist with more than 50 years in undersea applications, best known for acoustic release systems, wireless underwater acoustic modems and sub-bottom profiling instruments used in oceanographic research and defense. Teledyne acquired the company in January 2006 for approximately $40.6 million ($17.50 per share in cash); it now operates as Teledyne Benthos within Teledyne Marine.
Marine instrumentation and underwater acoustics products complementary to Teledyne's instrumentation portfolio.
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
Advisory firms were not disclosed for this transaction.