Keithley Instruments bought for $300million
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Keithley Instruments is to be acquired by Danaher in a deal worth approximately $300million. The acquisition has been unanimously approved by the Keithley board of directors and upon closing, it will be part of Danaher's Tektronix business.
Keithley currently offers about 150 products used to source, measure or control dc and ac signals. Its product offerings include integrated systems solutions, along with instruments and data acquisition modules.
"We are excited about the opportunity to acquire a premier brand and technology leader in bench solutions," said Jim Lico (pictured), executive vice president, Danaher. "Along with Fluke and Tektronix, Keithley further solidifies Danaher's leading position in the test and measurement industry and presents an attractive value creation opportunity."
"We believe this transaction creates significant value for Keithley's shareholders and I am excited about the opportunity this transaction represents for Keithley's customers and employees," said Joseph Keithley, chairman, president and ceo of Keithley. "Danaher has a great history of nurturing leading brand names within the test and measurement industry and we look forward to joining the Danaher team."
The acquisition is subject to customary closing conditions and is expected to be completed during the fourth quarter of 2010.
