Teledyne Acquires Optimum Optical Systems, Inc.
THOUSAND OAKS, Calif. – June 7, 2010 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Scientific & Imaging, LLC, has acquired Optimum Optical Systems, Inc. Optimum Optical, located in Camarillo, Calif., is a designer and manufacturer of custom optics and optomechanical assemblies. Terms of the transaction were not disclosed.
Optimum Optical manufactures custom lenses and optomechanical assemblies for the infrared, visible and ultraviolet spectrums. Optimum Optical’s products are primarily used in tactical military imaging systems found on a variety of defense platforms, including a number of small UAV systems. Following the acquisition, Optimum Optical Systems, Inc. will change its name to Teledyne Optimum Optical Systems, Inc.
"The acquisition of Optimum Optical further expands Teledyne's capabilities and product offerings in tactical infrared imaging systems," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne. "Specifically, Optimum Optical’s capabilities in lens and optomechanical systems are strategically positioned between the focal plane array, detector subsystem and camera products of Teledyne Imaging Sensors and Teledyne Judson Technologies, and the complete inertially-stabilized gimbal systems designed and manufactured by Optical Alchemy, Inc., in which we acquired a minority interest in March 2010."
Teledyne Technologies is a leading provider of sophisticated electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems. Teledyne Technologies’ operations are primarily located in the United States, 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. Actual results could differ materially from these forward-looking statements. Many factors, including the company’s ability to integrate the acquired product lines, retain customers and achieve anticipated synergies, could change anticipated results.
Investor Contact: Jason VanWees (805) 373-4542
Media Contact: Robyn McGowan (805) 373-4540