Teledyne Acquires Tindall Technologies
THOUSAND OAKS, Calif. - June 21, 2007 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Cougar, Inc., has completed the acquisition of Tindall Technologies, Inc., a designer and supplier of microwave subsystems for defense applications. Terms of the transaction were not disclosed.
Tindall designs and manufactures high performance Instantaneous Frequency Measurement (IFM) based systems and subsystems, including integrated frequency locked sources and set-on receiver-jammers used for U.S. Navy and Air Force training. Following the acquisition, it is anticipated that the Tindall operations, based in Pleasanton, Calif., will be consolidated with the operations of Teledyne Cougar in Sunnyvale, Calif. Tindall Technologies had revenue of $2.7 million for its fiscal year ended December 2006.
Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom, Mexico and Canada. 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 and strategic growth. Actual results could differ materially from these forward-looking statements. Many factors, including Teledyne Cougar's ability to integrate the acquired operations and achieve anticipated synergies, as well as changes in funding, continuation and award of government programs, could change anticipated results.
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