Teledyne Technologies and Micropac Industries have entered into a definitive merger agreement under which Micropac will be merged with a wholly owned subsidiary of Teledyne. The transaction, expected to close by the end of 2024, values Micropac at approximately $57.3 million. Micropac, founded in 1963, designs and manufactures microelectronic circuits, optoelectronic components, and sensor and display assemblies, primarily for military, aerospace, and medical applications.