Teledyne LeCroy, a subsidiary of Teledyne Technologies, has signed a deal to buy the assets of Quantum Data.

Expected to be completed in April, the deal will allow Teledyne Technologies to enhance its test solutions.

"Alexium International Group Limited has agreed to issue 9.7 million shares, priced at A$0.62 ($0.47) per share, through private placement."

Quantum Data designs and produces electronic test and measurement instrumentation products, while Teledyne LeCroy primarily manufactures oscilloscopes and protocol analysers for designers and engineers.

Alexium International Group Limited has agreed to issue 9.7 million shares, priced at A$0.62 ($0.47) per share, through private placement.

The shares are expected to be allocated on 20 April 2016, following the settlement of the placement.

The gross proceeds of the issue will be A$6m ($4.58m), which will be used to venture into new product categories and markets, as well as help the company to meet its working capital requirements.

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By GlobalData

Based in Australia, Alexium International develops speciality chemicals and solutions for a number of markets, including the military.