Teledyne to Buy Marine Instrument CompanyThursday, May 31, 2012
Teledyne Technologies Inc. on Thursday said that a subsidiary plans to acquire a Seattle maker of compact high-resolution acoustic imaging and measurement systems used by the marine industry.
The Thousand Oaks electronics company said that Teledyne RD Instruments Inc. has agreed to acquire BlueView Technologies Inc., which makes sonar systems used in underwater vehicles, surface vessels, and on fixed and portable ocean platforms. Terms of the deal were not disclosed.
“BlueView will add novel technology and unique products to our Teledyne Marine group, which consists of 11 businesses that provide acoustic sensors and communication devices, harsh environment interconnects and complete autonomous underwater vehicles,” said Chief Executive Robert Mehrabian in a statement.
Mehrabian also noted that BlueView’s 3D scanning sonars already are used in equipment made by Optech Inc., which is majority owned by Teledyne.
The deal is Teledyne’s second acquisition this week. The company on Tuesday said that it would acquire LeCroy Corp., a Chestnut Ridge, N.Y., maker of scientific instruments that help engineers test electronic devices, primarily in the aerospace, computer and auto industries. That deal is valued at about $291 million.
Teledyne shares were down 28 cents, or less than 1 percent, to $59.64 in midday trading on the New York Stock Exchange.