Teledyne Acquires Minority Stake in Optech
April 01, 2011 08:03 AM Eastern Daylight Time
THOUSAND OAKS, Calif.--(EON: Enhanced Online News)--Teledyne Technologies Incorporated (NYSE:TDY)
announced today that its subsidiary, Teledyne DALSA, Inc., has acquired a minority interest in the parent company
of Optech Incorporated. Terms of the transaction were not disclosed.
Headquartered in Vaughan, Ontario, Optech is an international leader in advanced laser-based survey and digital
imaging instrumentation with 285 employees worldwide. Founded by Dr. Allan Carswell in 1974, Optech offers
both standalone and fully integrated light detection and ranging (lidar) systems and camera imaging solutions used in
airborne terrestrial mapping, airborne laser bathymetry, mobile mapping and laser imaging, as well as space-qualified
sensors for orbital operations and planetary exploration. Optech’s imaging and mapping systems are used by a
broad range of global customers engaged in the energy, natural resources and infrastructure industries, as well as
“Optech’s three dimensional lidar-based imaging systems are complementary to Teledyne’s growing line of X-ray,
UV, visible and infrared sensors, cameras and software,” said Robert Mehrabian, chairman, president and chief
executive officer of Teledyne. “In addition, we were attracted to Optech’s presence in the environmental, energy and
marine domains, where Optech’s lidar systems are used for flood plain and coastal zone mapping, servicing power
and gas lines, and land and harbor infrastructure planning.”
“We are pleased to have Teledyne as a strategic investor in the company,” said Don Carswell, president of Optech.
“Ranging from Teledyne DALSA’s CCD sensors that we currently use to Teledyne’s presence in the imaging,
environmental and marine markets, we see Teledyne contributing to Optech’s growth and profitability.”
As part of its investment in Optech, Teledyne received an option to purchase 100% of the shares of the company
after three years. With the prior acquisition of DALSA Corporation and the recent investment in Nova Research,
Inc. (Nova Sensors), Optech represents Teledyne’s third strategic investment in the digital imaging domain in 2011.
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 minority investment and a potential acquisition of a company. Actual results could differ materially
from these forward-looking statements. Many factors, including the ability of the Company and Optech 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 U.S. and foreign government policy changes or actions and exchange rate fluctuations.
Teledyne Technologies Incorporated
Jason VanWees, 805-373-4542
Robyn McGowan, 805-373-4540