Teledyne increases stake in Optech to 51% from 19%

Telecom Lead America: Teledyne Technologies subsidiary
Teledyne DALSA has increased its stake in the parent company of Optech to 51
percent from 19 percent.


Optech is a provider of digital imaging instrumentation
with 285 employees worldwide. Terms of the transaction were not disclosed.


We are excited that Teledyne increased its ownership
stake in Optech. The investment demonstrates Teledyne’s commitment to further
growth at Optech, as well as our company’s technology, clients and markets,”
said Don Carswell, president of Optech.


Optech’s imaging and mapping systems are used by a range
of global customers engaged in the energy, natural resources and infrastructure
industries, as well as government customers.


Optech’s LIDAR systems, which produce detailed three
dimensional images, add a new level of capability to Teledyne’s portfolio of
visible, infrared, X-ray and ultraviolet sensors, cameras and software,” said
Robert Mehrabian, chairman, president and chief executive officer of Teledyne.


As part of its investment in Optech in March 2011,
Teledyne received an option to purchase 100 percent of the remaining shares of
the parent company of Optech not owned by Teledyne after three years. Teledyne
DALSA continues to have this option.


Optech offers both standalone and fully integrated light
detection and ranging (LIDAR) systems and camera imaging solutions used in
airborne terrestrial mapping, airborne laser bathymetry, mobile mapping and
laser imaging.


Teledyne Technologies is a provider of sophisticated
instrumentation, digital imaging products and software, aerospace and defense
electronics, and engineered systems.


Last year, Teledyne Brown Engineering, a subsidiary of Teledyne Technologies was awarded by the
Missile Defense Agency (MDA) its Objective Simulation Framework (OSF), an IDIQ
contract with a potential value of $595 million over five years beginning
September 1, 2011.


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