Danaher Looking To Get In To The Test Equipment Market

[z28toz06]

Danaher Tests the Acquisition Market Andrew Farrell, 10.15.07, 12:20 PM ET


In a move that will help Danaher test the high end of the test equipment market, the industrial conglomerate will acquire Tektronix for $2.8 billion.

Danaher and Tektronix announced Monday that Danaher agreed to acquire all outstanding common shares of Tektronix for $38.00 per share, or $2.8 billion total. Shares of Tektronix jumped $9.27, or 32.7%, to $37.61, in morning trading.

Shares of Danaher fell 56 cents, or 0.7%, to $81.91. Richard Eastman, an analyst at Robert W. Baird, said shares were pushed lower by short-term investors that didn't see an immediate benefit to the acquisition.

Long term, Eastman sees Tektronix as a good fit for Danaher. Tektronix makes test and measurement equipment used by communications, computer, semiconductor, and consumer electronics companies.

Danaher, a Washington, a D.C.-based conglomerate, makes a wide range of industrial products from small motors to hand tools. It also makes test and measurement equipment.

Eastman said Tektronix's focus on mid- and high-range equipment complements Danaher's current line. Eastman said Danaher has had better success with lower-cost instrument sales.

A majority of Tektronix shareholders must approve the deal. If they do, the transaction is expected to be completed by the fourth quarter of 2007.

Danaher also offered a slightly more optimistic view of its third-quarter earnings on Monday. Danaher expects to its earnings per share to be at the high end of its previously stated range of 92 cents per share to 97 cents per share.

[SpiderGearsMan]

the fluke division isn't exactly lo tech

[kythri]

Yeah, I thought Fluke was on par with Tektronix crap. I used to be a Systems Administrator for a silicon wafer foundry, and Fluke gear was around in pretty much equal part to Tektronix and other stuff out there...

[ColdDuckTime]

So who ends up being responsible for the gazillion Tek retirees?

[KingPerformance]

Yeah, I thought Fluke was on par with Tektronix crap. I used to be a Systems Administrator for a silicon wafer foundry, and Fluke gear was around in pretty much equal part to Tektronix and other stuff out there...

This is the first time I have seen crap and Tektronix used together. Fluke isn't garbage, but its not on par with Tektronix. What does being a System Admin have to do with what Tektronix would produce?

[-lecroix-]

let the pissin' contests begin ... :bounce:

[Uncle Buck]

let the pissin' contests begin ... :bounce:

ALRIGHT, MOVE YOUR BIG ASS OVER AND FOR THE LAST TIME QUIT HOGGIN THE COUCH AND THE CORN! NOW SHETUP AND HERE, GRAB THIS BEER BEFORE IT STARTS GETTIN WARM! :lol_hitti :spit:

[-lecroix-]

Are you sitting on the remote?

[Uncle Buck]

Are you sitting on the remote?

OH CRAP.... Please pardon my big ass!:bounce:

[kythri]

This is the first time I have seen crap and Tektronix used together. Fluke isn't garbage, but its not on par with Tektronix. What does being a System Admin have to do with what Tektronix would produce?

Wow, trying to start shit? I guess I failed - I was attempting to qualify my work experience without making out like I was some kind of engineer. I didn't use the stuff (I had my own Fluke gear), but it was all over the place in various parts of the fab. Fluke is pretty good quality stuff, and appeared to be on par with the Tektronix stuff, given the mix of things there.

Douche.

[-lecroix-]

Wow, trying to start shit?

As if you expected something different ... :bounce:

[ColdDuckTime]

In my world, you see either Tek or HP logic analyzers, test signal generators, scopes...and Fluke handheld stuff. Maybe their lines overlap some, but I'll bet not by much.

If they do, I suppose what you can expect is for one company or the other to have massive layoffs followed by absorption of it's sales channel.

[Amarkel]

Here is my two cents on the whole deal...
Danaher owns Hennessy Industries(COATS+AAMCO). They make wheel balancers and brake lathes, and they might be getting into the alignment business.

Tektronix makes equipment that processes and tests sound and images into digital signals...

Look at the current batch of alignment systems from Hunter, John Bean and Bear. All of the new systems use digital video cameras to measure the angles...

As for brake lathes, can you imagine a lathe that set the optimal rotational and cross-feed speeds by measuring the harmonics of the cutting bits on the rotor? Hunter has a system like this.

I pulled this out of my ass...

[KingPerformance]

Wow, trying to start shit? I guess I failed - I was attempting to qualify my work experience without making out like I was some kind of engineer. I didn't use the stuff (I had my own Fluke gear), but it was all over the place in various parts of the fab. Fluke is pretty good quality stuff, and appeared to be on par with the Tektronix stuff, given the mix of things there.

Douche.

Ok, so you aren't an engineer, didn't use Tecktronix, and somehow evaluated that it is craptacular and on par with Fluke ... just wanted to make sure we were on the same page.

I like your new signature (douche), its fitting.

[kythri]

Ok, so you aren't an engineer, didn't use Tecktronix, and somehow evaluated that it is craptacular and on par with Fluke ... just wanted to make sure we were on the same page.

I like your new signature (douche), its fitting.

There's no c in Tektronix. I know that much.

I base my statement on observation and chit-chat with the people who used the gear. If I'm wrong, then I'm wrong. It's not like it'd be the first time (for any of us, Captain Perfection). I never used the stuff, and never said that I did. I said it was used where I worked.

Now then, stop being a bitch, change your tampon, and have a fabulous day.

[Uncle Buck]

Now then, stop being a bitch, change your tampon, and have a fabulous day.[/QUOTE]

OH DAMN, That was priceless! :lol_hitti

[TENMMIKE]

Tektronix and fluke dont truly overlap, 2 differnt discplines and form function, as for Danaher , im in the fluke test measurment group,(not a fluke employee) what we were told is that fluke will remain automous with little to no practical higher supervision(hard to believe but at user level and coms with fluke support show it so far to be true)....i supose that is somewhat confirmed by fluke buying raytek and now raytek will be branded as fluke (if ya dont know raytek makes very good hand held I.R measurment tools (iv got 2)

[wilbilt]

im in the fluke test measurment group,(not a fluke employee) what we were told is that fluke will remain automous with little to no practical higher supervision(hard to believe but at user level and coms with fluke support show it so far to be true)

Good to hear. I have always been a fan of Fluke Equipment. (http://www.fluke.com.cn/cnzh/home/)

I think the autonomous part may go away when the dollar $ign$ start attracting attention. Don't you love greed? :wtf: