THOUSAND OAKS, Calif. – March 1, 2013 – Teledyne Technologies Incorporated (NYSE:TDY) (“Teledyne") announced today that it has completed the acquisition of RESON A/S (“RESON"). RESON, headquartered in Slangerup, Denmark, provides high-resolution marine acoustic imaging and measurement solutions. The acquired company will operate under the name Teledyne RESON. Terms of the transaction were not disclosed.
With over 30 years of experience and approximately 1,400 RESON echosounders sold worldwide, RESON is a leading provider of multibeam sonar systems and specialty acoustic sensors for hydrography, global marine infrastructure and offshore energy operations. RESON's multibeam sonar systems range from portable high-resolution shallow water systems used on autonomous underwater vehicles (AUVs) to full ocean depth vessel mounted oceanographic systems.
“RESON is our thirteenth acquisition in our marine instrumentation group, which provides sonar systems, acoustic sensors and communication devices, harsh environment interconnects, and complete autonomous underwater vehicles," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne. “With the addition of RESON, as well as BlueView and Optech last year, Teledyne now offers 3D marine imaging systems for use from aircraft, fixed platforms, surface vessels and AUVs over a wide range of distances and water depths. We are also working to integrate terrestrial and marine imagery, as well as enhance our ability to deliver, in addition to an image, specific information about objects, the land and seafloor, and the water column."
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 recent acquisition of a company. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and RESON to achieve anticipated synergies, as well as market and economic conditions beyond either company's control, could change anticipated results. There are additional risks associated with investing in businesses internationally, including those arising from United States and foreign government policy and regulatory changes or actions and exchange rate fluctuations.
Investor Contact: Jason VanWees (805) 373-4542
Press Contact: Robyn E. McGowan (805) 373-4540