18 October 2007

Danaher deals for Tektronix

Mega industry holding company, the Danaher Corp., will pay $2.85 billion to pick up Tektronix, a maker of test and measurement equipment.

Among its large portfolio, Danaher makes environmental and electronic testing technology including bar code readers, dental products, and medical instruments. It earned $1.12 billion on sales of $9.6 billion in 2006.

Tektronix, based in Beaverton, Ore., markets high-end communications and technology testing products. Tektronix reported a 2007 profit of $90.4 million on sales of $1.11 billion.

The current plant is for Tektronix to operate as a wholly owned subsidiary and remain in Beaverton. Tektronix will benefit from Danaher’s size and financing, and Danaher looks to gain from Tektronix’s specialty markets and global reach, particularly in Asia.

“With its well recognized brand, significant global reach, and broad based expertise in providing solutions for end users in research and product development for high-growth industries, we believe Tektronix provides an excellent complement to our existing Electronic Test business,” said Danaher President and Chief Executive H. Lawrence Culp, Jr.

“The combination of Danaher and Tektronix enables us to leverage each other’s strengths and build on our commitment to long-term growth, innovation, and continuous productivity improvement,” said Richard H. Wills, Tektronix chair, president and chief executive.

The transaction should close in the current quarter.

For related information, go to www.isa.org/productivity.