It’s been a busy holiday shopping season for Teledyne Technologies Inc.
The Thousand Oaks manufacturer of electronics and aerospace components for military and commercial markets announced two new acquisitions and closed a third in the past two weeks, including the Jan. 2 purchase of Storm Products Co.
Teledyne sought to bolster its so-called “harsh environment interconnect products” business with the acquisition of the Santa Monica company, which makes specialty wire, cable and interconnect assemblies. Storm Products had revenue of $45.7 million in the previous fiscal year.
Teledyne, which boasts annual revenue of $1.59 billion, did not disclose the financial terms of any of its recent deals, which highlight the strength of L.A.’s defense and aerospace industries amid higher government spending.
The strategy behind the deals was to expand and enhance the technologies and products Teledyne could offer its customers, said Jason VanWees, vice president of corporate development and investor relations.
The Storm Products deal, for example, marks the seventh acquisition of microwave component technology companies.
In addition, Teledyne announced Dec. 24 a deal to acquire Judson Technologies, a Montgomeryville, Pa.-based infrared detector maker. Judson had 2006 sales of $13.8 million. The deal is expected to close Feb. 1.
The acquisition will complement the company’s imaging expertise and expand its capabilities in developing infrared technology.
Last week, Teledyne closed a deal announced in early December to purchase Impulse Enterprise, a San Diego-based manufacturer of underwater electrical systems. Impulse had 2006 sales of $16.8 million.
Teledyne said it plans to use the company’s capabilities to supply underwater wiring and other electronic components to the military and offshore oil operations.
The activity boosted shares, which hit a 52-week high of $57.21 on Dec. 24, the day of the Storm Products acquisition. Price has since dropped to preacquisition levels, closing Jan. 3 at $52.09, still up about a third from a year ago.
