Teledyne to acquire CETAC Technologies
THOUSAND OAKS, Calif. – August 19, 2013 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Instruments, Inc., has entered into an agreement to acquire assets of SD Acquisition, Inc. (d/b/a CETAC Technologies). Headquartered in Omaha, Neb., CETAC Technologies is a leading designer and manufacturer of automated sample handling and sample introduction equipment for laboratory instrumentation. Terms of the transaction were not disclosed. The closing of the transaction, which is subject to various conditions, is anticipated to occur on August 30, 2013.
CETAC manufactures rugged automated sample introduction equipment for a range of elemental and chemical analysis systems including inductively coupled plasma mass spectrometry (ICP-MS) and high-performance liquid chromatography (HPLC). In addition, CETAC provides unique sample preparation devices, including nebulizers and laser ablation systems, for trace elemental analysis, as well as complete mercury analysis systems.
“CETAC’s laboratory automation and instruments for elemental spectroscopy fit well with Teledyne’s existing environmental instrumentation product lines covering organic compound sample preparation and other laboratory applications,” said Robert Mehrabian, chairman, president and chief executive officer of Teledyne. “Furthermore, the acquisition enhances Teledyne’s strong existing position in specialty mercury analyzers.”
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 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 potential acquisition of a company. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and CETAC 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