Teledyne Acquires Assets of ATLAS HYDROGRAPHIC GmbH
THOUSAND OAKS, Calif. – August 18, 2014 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne RESON GmbH, has acquired assets of ATLAS HYDROGRAPHIC GmbH. Based in Bremen, Germany, ATLAS HYDROGRAPHIC GmbH designs, manufactures, and integrates marine sonar systems for mid and deep water applications. Terms of the transaction were not disclosed.
ATLAS HYDROGRAPHIC GmbH specializes in high-performance, customized, complete hydrographic survey systems for civil applications. ATLAS HYDROGRAPHIC GmbH’s products include advanced multi-beam echo sounders and sub-bottom profilers suitable for marine imaging to extreme depths of the greatest ocean trenches, as well as beneath the ocean floor.
“This acquisition further strengthens our marine acoustic imaging business, and significantly enhances our deep water sonar capabilities,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “Specifically, ATLAS HYDROGRAPHIC GmbH brings unique technology, including high-power, multi-ping acoustic transmitters and leading deep water sub-bottom profilers for ocean survey and marine science applications.”
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. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne to achieve anticipated synergies, as well as market and economic conditions, could change anticipated results. There are additional risks associated with operating businesses internationally, including those arising from United States and foreign government policy and regulatory changes or actions and exchange rate fluctuations.
Contact: Jason VanWees (805) 373-4542