Varex Imaging Corporation entered into a definitive Agreement and Plan of Merger with Teledyne Technologies Incorporated to be acquired in an all-cash transaction valued at approximately $1.1 billion. Under the terms, Varex shareholders will receive $18.90 per share upon closing, which is expected in early 2027 subject to stockholder approval and regulatory clearances including Hart-Scott-Rodino expiration. The Board unanimously recommended adoption of the agreement. Outstanding equity awards, including options, RSUs, and performance units for named executives Sunny S. Sanyal, Shubham Maheshwari, Andrew J. Hartmann, and Mark S. Jonaitis, will accelerate and convert to cash based on the merger consideration. Varex Imaging Corporation is a leading innovator, designer, and manufacturer of X-ray imaging components such as tubes, digital detectors, and image processing solutions.

Varex Imaging Corporation reported preliminary third-quarter fiscal 2026 results with revenues of $211 million, a 4% year-over-year increase. GAAP diluted net income was $0.37 per share, while non-GAAP diluted net income was $0.31 per share, compared to $0.13 in the prior-year quarter. The company generated $21 million in operating cash flow and holds $99 million in cash and marketable securities. Management noted strong growth in Industrial segments and recovery of tariffs via a $17 million refund from U.S. Customs. Varex has cancelled its earnings conference call due to an announced transaction with Teledyne Technologies Incorporated and will not provide financial guidance for the quarter. Varex Imaging Corporation is a leading innovator, designer, and manufacturer of X-ray imaging components and systems for medical, industrial, and security applications.