THOUSAND OAKS, Calif. - Teledyne Technologies Incorporated (NYSE:TDY), known for its sophisticated digital imaging products and aerospace and defense electronics, announced its agreement to acquire Valeport Holdings Limited, a UK manufacturer of underwater sensors. While the financial terms of the deal remain undisclosed, the acquisition is subject to customary closing conditions and approvals.
Valeport, established in 1969 and situated in Totnes, United Kingdom, specializes in producing underwater sensors utilized across various sectors, including environmental monitoring, energy, construction, and defense.
The company's product portfolio is set to complement Teledyne's existing offerings, with sound velocity probes, current and flow meters, conductivity, temperature and depth sensors, and multi-parameter profilers that measure turbidity and detect chlorophyll levels.
George Bobb, President and Chief Operating Officer of Teledyne, expressed enthusiasm about the acquisition, stating that Valeport will enhance Teledyne Marine's technology array. Bobb highlighted Teledyne Marine's growth through over 20 acquisitions and collaboration, which has resulted in a comprehensive suite of subsea technology solutions.
Matt Quartley, Managing Director of Valeport, also commented on the acquisition, indicating that joining Teledyne Marine marks the next phase in Valeport's journey and will offer customers an expanded range of products and services.
Teledyne, with operations primarily in the United States, Canada, the UK, and parts of Europe, continues to strengthen its position in the marine technology market with this strategic acquisition.
The press release also includes a cautionary note regarding forward-looking statements, reminding readers that actual results could differ from expectations due to various factors, including market and economic conditions. It also points to the inherent risks of international business operations, such as policy and regulatory changes and currency exchange fluctuations.
This news is based on a press release statement from Teledyne Technologies Incorporated.
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