Teledyne Buys Marine Instruments MakerTuesday, October 22, 2013
Teledyne Technologies Inc. on Tuesday said that it acquired C.D. Ltd., a marine engineering company in Aberdeen, Scotland.
The Thousand Oaks company, which makes scientific instrumentation, digital imaging products, and defense electronics systems, did not disclose terms of the deal.
The acquisition, which will be renamed Teledyne CDL Ltd., designs and makes subsea navigation systems, motion sensors and other devices used in remotely operated vehicles and other marine devices.
“The addition of CDL to our marine instrumentation portfolio provides an exciting opportunity to deliver integrated systems and solutions utilizing the wide range of Teledyne products,” Chief Executive Robert Mehrabian said in a statement.
Shares closed up 88 cents, or 1 percent, to $89.42 on the Nasdaq.