Teledyne Acquires Hanson Research Corporation
THOUSAND OAKS, Calif. – December 6, 2016 – Teledyne Technologies Incorporated (NYSE:TDY) (“Teledyne”) announced today that Teledyne Instruments, Inc. has acquired Hanson Research Corporation (“Hanson Research”). Hanson Research, headquartered in Chatsworth, California, specializes in analytical instrumentation for the pharmaceutical industry. Terms of the transaction were not disclosed.
Founded by William A. (“Bill”) Hanson in 1951, Hanson Research pioneered the development of dissolution testing instruments. Dissolution testing determines the release rate of an active pharmaceutical ingredient in tablet or capsule form as it dissolves into solution. Hanson Research also provides diffusion testing instrumentation used to analyze the release rate of a pharmaceutical as it permeates through a skin-like membrane. Finally, Hanson Research’s newer physical test instruments examine properties such as tablet disintegration and powder flowability.
“Hanson Research’s line of dissolution and diffusion instruments complement Teledyne’s portfolio of laboratory instrumentation businesses, including Teledyne CETAC’s automation systems, Teledyne Tekmar’s sample preparation instruments, and Teledyne Isco’s chromatography products,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “Furthermore, Hanson Research will strengthen Teledyne’s relationships with global life sciences and pharmaceutical companies.”
“I am proud to see Hanson Research combined with Teledyne. Our companies, both headquartered in Southern California, share the same commitment to quality,” said Royal Hanson, Chairman and Chief Executive Officer of Hanson Research. “I am delighted to see Hanson continue its name and operations, while offering employees additional opportunities across Teledyne.”
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. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and Hanson Research to achieve anticipated synergies, as well as market and economic conditions beyond either company’s control, could change anticipated results.