Lidar Firm Rechristened Teledyne Optech after Acquisition
THOUSAND OAKS, Calif., April 30, 2015 — Teledyne Technologies Inc. has taken full ownership of Optech Inc., a Canadian manufacturer of laser-based survey and digital imaging instrumentation.
Terms of the transaction, which was carried out through Teledyne subsidiary Teledyne Dalsa Inc. of Waterloo, Ontario, were not disclosed.
Teledyne had held a majority stake in Optech for the last three years. The acquisition will not result in any significant operational changes other than a new name, Teledyne Optech.
"We have now been operating as Teledyne for three years, with only this name change outstanding," said Optech Founder Allan Carswell. "Plans for Optech have been made as part of Teledyne, and it has been very beneficial to be part of a larger entity that shares the same commitment to research and development."
Founded in 1974, Optech is headquartered in Vaughan, Ontario. The company provides lidar systems used in airborne mapping and laser bathymetry, as well as mobile mapping and terrestrial imaging. Optech's imaging and mapping systems are used by global customers in the energy, natural resources and infrastructure industries, as well as government.
"Teledyne was very supportive of our new CZMIL Project Program, as well as the building of our own CZMIL equipment that is being successfully deployed by our clients for projects around the world," said Don Carswell, who will continue on as president of Teledyne Optech. "Along with the investment, the additional expertise in export and insurance were very helpful."
Robert Mehrabian, chairman, president and CEO of parent company Teledyne Technologies Inc., said, "the timing of this transaction demonstrates our confidence in recent [Optech] product releases, including the new Galaxy and multiwavelength Titan airborne mapping systems, as well as the updated workflow in Optech's mobile imagers."
Teledyne Technologies develops instrumentation, digital imaging products and software, aerospace and defense electronics and engineered systems.