Washington, D.C.-based company Danaher said it is buying long-time telecom test firm Tektronix, which is based in Beaverton, Ore., for about $2.85 billion. The deal price amounts to about $38 per share, 34 percent over the closing price for Tektronix last Friday.

Danaher owns several different companies addressing diagnostics, industrial control and other applications across a variety of industries. The acquisition of Tektronix will allow the company to expand its presence in the telecom testing arena (Danaher calls it "electronics test"), in which it already operates Fluke Networks. Tektronix brings key strengths in VoIP, mobile and video testing.

For more:
- see this story in The New York Times