Teledyne Technologies Inc. (NYSE: TDY) announced on Monday that it has reached an agreement to acquire Varex Imaging Corp. (NASDAQ: VREX) for $18.90 per share in cash, valuing the deal at approximately $1.1B, including debt. The transaction was unanimously approved by the boards of directors of both companies. Varex is a pioneer in the development of X-ray sources and digital X-ray detectors, and also supplies high-voltage connectors and image-processing software to global OEM manufacturers. Its X-ray tubes, flat panels, and photon-counting detectors are used in medical diagnostic imaging, non-destructive testing, security systems, and vehicle inspection systems. The deal is expected to close in early 2027.
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