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Teledyne Acquires Photon Machines, Inc.

THOUSAND OAKS, Calif. – March 31, 2014 – Teledyne Technologies Incorporated announced today that its subsidiary, Teledyne Instruments, Inc., has acquired Photon Machines, Inc. (“PMI”). Headquartered in Bozeman, Mont., PMI is a leading designer and manufacturer of laser-based sample introduction equipment for laboratory instrumentation. Terms of the transaction were not disclosed.

PMI’s laser ablation systems allow elemental analysis when only a small amount of sample may be present. In addition, laser ablation provides for extraction of material at extreme spatial resolution. For example, by using laser ablation along with inductively coupled plasma mass spectrometry (LA-ICP-MS), one can accurately determine trace elements when sample sizes may be less than one microgram, or analyze the variation in trace elements at locations a few microns apart. Such analyses are useful in medical research, forensic, and materials science applications.

“The acquisition of Photon Machines naturally complements our acquisition of Teledyne CETAC in August 2013,” said Robert Mehrabian, chairman, president and chief executive officer of Teledyne. “Since 2010, PMI and CETAC have partnered to develop, market and service laser ablation systems. We are pleased to offer our customers a more complete product portfolio with the technology, sales and service under common ownership.”

About Teledyne Technologies
Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies’ operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne Technologies’ website at www.teledyne.com.

Forward-Looking Statements Cautionary Notice
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to a recent acquisition of a company. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and PMI to achieve anticipated synergies, as well as market and economic conditions beyond either company’s control, could change anticipated results.

Investor Contact: Jason VanWees (805) 373-4542

Press Contact: Robyn E. McGowan (805) 373-4540

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