Teledyne Completes Acquisition of CARIS
THOUSAND OAKS, Calif. – May 4, 2016 – Teledyne Technologies Incorporated (NYSE:TDY) (“Teledyne”) announced today that it has completed the acquisition of the CARIS business and its international affiliates (collectively, “CARIS”). CARIS, headquartered in Fredericton, New Brunswick, Canada, is the leading developer of geospatial software designed for the hydrographic and marine community. The acquired company will now operate under the name Teledyne CARIS, Inc. Terms of the transaction were not disclosed.
Founded in 1979, CARIS pioneered software for processing and visualizing sonar data, as well as for producing, managing and distributing marine geospatial information. Today, CARIS offers the most comprehensive solution for bathymetry, seafloor imagery and water column data processing, and the industry leading suite of paper and electronic navigational chart production and management software. Approximately 90% of the world’s hydrographic offices use CARIS in their workflow.
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 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 of a company. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and CARIS 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.