Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 302

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 302
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 2022, Teledyne acquired ETM-Electromatic, Inc. (“ETM”) for $87.7 million in cash, net of cash acquired, and subject to certain adjustments.  ETM, headquartered in Newark, California, designs and manufactures high-power microwave and high-energy X-ray subsystems for cancer radiotherapy, defense and X-ray security applications.  ETM is part of the Digital Imaging segment.  Goodwill resulting from the ETM acquisition will not be deductible for tax purposes.

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NL AcousticsDuring the third quarter of 2022, the Company acquired an approximate 80% majority interest in Noiseless Acoustics Oy (“NL Acoustics”), paying $11.9 million in cash, net of cash acquired, during the year.  NL Acoustics, located in Helsinki, Finland, designs and manufactures acoustics imaging instruments and predictive maintenance solutions.  NL Acoustics is part of the Digital Imaging segment.  Goodwill resulting from the NL Acoustics acquisition will not be deductible for tax purposes.The following tables show the purchase price (net of cash acquired), goodwill acquired, and acquired intangible assets for the acquisitions made in 2024 and 2023 (in millions):2024AcquisitionsAcquisition DateCash Paid (a)Goodwill AcquiredAcquired Intangible AssetsAdimecJune 4, 2024$88.7 $64.6 $17.9 ValeportApril 10, 2024$35.0 $23.6 $7.8 Total$123.7 $88.2 $25.7 (a)  Net of cash acquired, approximately 10% of the Valeport purchase price is payable in 2025 and included in the amount above.2023AcquisitionsAcquisition DateCash Paid (a)Goodwill AcquiredAcquired Intangible AssetsXena NetworksOctober 13, 2023$24.2 $21.1 $4.8 ChartWorldJanuary 3, 2023$53.5 $55.5 $11.3 Total$77.7 $76.6 $16.1 (a)  Net of cash acquired

The Company’s cost to acquire these 2024 and 2023 acquisitions was allocated to the assets acquired and liabilities assumed based upon their respective fair values as of the date of the completion of the acquisition.  The differences between