Teledyne to Acquire Additional Industrial Gas Monitoring Instruments
THOUSAND OAKS, Calif. – November 2, 2016 – Teledyne Technologies Incorporated (NYSE:TDY) (“Teledyne”) announced today that Teledyne Instruments, Inc. has entered into an agreement to acquire assets of IN USA, Inc. (“IN USA”). IN USA, headquartered in Norwood, Massachusetts, manufactures a range of ozone generators, ozone analyzers and other gas monitoring instruments utilizing ultraviolet and infrared based technologies. Terms of the transaction were not disclosed. The closing of the transaction, which is subject to customary conditions, is anticipated to occur later this month.
Founded in 1988, IN USA’s gas sensors and monitors are designed for use across several industrial process applications in the semiconductor, water treatment, food & beverage and pharmaceutical industries. Teledyne intends to relocate and consolidate manufacturing into the new, owned facility of Teledyne Advanced Pollution Instrumentation in San Diego, California.
“Teledyne Advance Pollution Instrumentation became part of Teledyne in 2001 and was our very first acquisition,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “Since then, Teledyne API has grown to be one of our strongest performing companies and is a leader in air quality monitoring instrumentation. IN USA will add complementary products, sales channels and applications expertise to our existing industrial ozone instrumentation.”
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 potential acquisition of a company. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and IN USA to achieve anticipated synergies, as well as market and economic conditions beyond either company’s control, could change anticipated results.