Tektronix measures up as a leader in the testing industry. The company, widely known as Tek, is one of the world's largest makers of test and measurement instruments, such as digital multimeters, logic analyzers, and signal generators. In particular, Tektronix is the world's largest maker of oscilloscopes (instruments used to check electrical and electronic equipment); it offers scopes in all shapes and sizes, from handheld units to large laboratory models. Tek, which is a subsidiary of Danaher, does business worldwide, serving clients in the communications, aerospace, consumer electronics, and semiconductor industries, among others.
The company has sales offices and contacts worldwide; its regional headquarters are located in China, Japan, the UK, and the US.
While traditional instrument markets, such as logic analyzers and oscilloscopes, stagnated in growth, Tek found new life in network management and diagnostics products, due to increasing numbers of computer and communications networks throughout the world. Video/audio signal analyzers are also a hot market, as video spreads beyond broadcast and cable channels to the Internet, mobile devices, and other electronics.
Mergers and Acquisitions
Following the Danaher acquisition, Tek continued to acquire other firms to augment its primary product lines in targeted markets. In 2011 it bought Veridae Systems, adding on-chip products used to debug and validate multi-device systems as well as a business unit in Vancouver. Also that year the company acquired Optametra, a company that makes instruments for coherent lightwave signal analysis, used for fiber optic networks.
The prior year Tek bought Mixed Signals (video monitoring equipment), SyntheSys Research (signal integrity test and measurement equipment), and Arbor Networks (network security and management software). In 2009 Tektronix Communications bought Ireland's Aran Technologies Ltd. (customer experience management software for wireless communications service providers) and the test and measurement business of Sypris Solutions (on-site and mobile calibration, testing, and sourcing services).
In 2010 Danaher acquired Tek rival Keithley Instruments in a transaction valued at about $300 million. Danaher added Keithley to its Tektronix unit, as part of the Professional Instrumentation segment of its Test and Measurement platform. The acquisition strengthens Tek's business by adding a line of general purpose test instruments specifically for the scientific market.
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