Teledyne Acquires Remaining Shares of Nova Sensors
THOUSAND OAKS, Calif. – July 8, 2013 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Scientific & Imaging, LLC, has acquired the remaining 49% interest in Nova Research, Inc. (“Nova Sensors”) that it did not already own. Terms of the transaction were not disclosed.
On March 17, 2011, Teledyne acquired a majority stake in Nova Sensors. Nova Sensors, located in Buellton, Calif., designs highly-integrated camera electronics, develops image processing algorithms, and manufactures compact mid-wave and short-wave infrared camera systems.
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 Mexico. 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 Nova Sensors 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 McGowan (805) 373-4540