Teledyne buys parent company of PDM Neptec

Telecom Lead America: Teledyne
Technologies subsidiary Teledyne has acquired the parent company of PDM Neptec,
a provider of underwater cables, fiber optic and electrical subsea connectors
and custom engineering solutions.

Teledyne did not disclose terms of the transaction.

The acquired company will operate under the name Teledyne

Robert Mehrabian, chairman, president and chief executive
officer of Teledyne, said with the thirteenth acquisition in Teledyne Marine
group, PDM Neptec expands its line of harsh-environment marine interconnects
provided by Teledyne. In addition, PDM Neptec adds additional engineering
talent and strengthens our international sales channels.

Susannah Dennis, founder of PDM Neptec, said with the
acquisition of PDM Neptec, Teledyne is able to leverage PDM Neptec to develop
further its European footprint. The transaction is a natural development for
PDM Neptec, positive for employees, the local community, customers and
suppliers,” said Susannah Dennis.

Teledyne Technologies, a provider of sophisticated
instrumentation, digital imaging products and software, aerospace and defense
electronics, and engineered systems, operates primarily in the United States,
Canada, the United Kingdom and Mexico.

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