Teledyne to Acquire Impulse Enterprise
Investor Contact:
Jason VanWees
(805) 373-4542
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Press Contact:
Robyn McGowan
(805) 373-4540
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THOUSAND
OAKS, California -- December 10, 2007 --Teledyne Technologies Incorporated (NYSE:TDY) announced today
that its subsidiary, Teledyne Instruments, Inc., has entered into an
agreement to acquire assets of Impulse Enterprise. Impulse Enterprise,
headquartered in San Diego, Calif., is a leading manufacturer of underwater
electrical interconnection systems. Terms of the transaction were not
disclosed. The closing of the transaction, which is subject to various
conditions, is anticipated to occur on December 31, 2007.
?The pending acquisition of Impulse Enterprise?s assets is another important step in the expansion of
our lines of sensors, communication devices and interconnect systems for
the harsh marine environment,? said Robert
Mehrabian, chairman, president and chief executive officer of Teledyne. ?Through this acquisition, the purchase of assets of
D.G. O?Brien (DGO) completed earlier this year and
our majority ownership of Ocean Design, Inc. (ODI), Teledyne will be able
to provide a broader range of end-to-end undersea interconnect solutions to
the offshore oil and gas, defense, oceanographic and telecom markets.
Impulse?s water proof neoprene and glass
reinforced epoxy connector lines complement Teledyne DGO?s
glass-to-metal sealed subsea cable and connector systems, as well as ODI?s lines of wet-mateable interconnect systems.?
?Impulse has supplied the underwater industry with the
highest quality connectors and cable assemblies since 1979,? said Francis Faber, president of Impulse. ?Today, Impulse is a world leader in the design and
manufacture of harsh-environment interconnection systems. Impulse?s product development efforts will benefit from Teledyne?s extensive technology and financial strength to help
meet the growing demands of our worldwide base of customers.?
Impulse
had sales of $16.8 million for its fiscal year ended December 31, 2006.
After the closing, the acquired business will operate under the name
Teledyne Impulse.
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. Actual results could differ materially from these
forward-looking statements. Many factors, including the Company?s ability to integrate the acquired product lines,
retain customers and achieve anticipated synergies, could change
anticipated results.
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