Toronto, Canada, April 1, 2011 Optech Incorporated, the worlds leading manufacturer of advanced lidar and camera survey instruments, is pleased to announce that Teledyne DALSA, Inc., a subsidiary of Teledyne Technologies Incorporated (NYSE:TDY), has acquired a minority interest in the parent company of Optech Incorporated. Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne DALSA is located in Waterloo, Ontario, near Optech headquarters.
We are pleased to have Teledyne as a strategic investor in the company, said Optech CEO Don Carswell. Ranging from Teledyne DALSAs CCD sensors that we currently use to Teledynes presence in the imaging, environmental and marine markets, we see Teledyne contributing to Optechs growth and profitability.
Optechs three dimensional lidar-based imaging systems are complementary to Teledynes growing line of X-ray, UV, visible and infrared sensors, cameras and software, said Robert Mehrabian, chairman, president and chief executive officer of Teledyne. In addition, we were attracted to Optechs presence in the environmental, energy and marine domains, where Optechs lidar systems are used for flood plain and coastal zone mapping, servicing power and gas lines, and land and harbor infrastructure planning.
About Optech Incorporated
Founded by Dr. Allan Carswell in 1974, Optech provides imaging and mapping systems that are used by a broad range of global clients in energy, natural resources, infrastructure and government mapping, security and defense. Optech is the world leader in the development, manufacture and support of advanced lidar and imaging-based survey instruments. With operations worldwide and more than 285 employees, Optech offers both standalone and fully integrated lidar and camera solutions in airborne terrestrial mapping, airborne laser bathymetry, mobile mapping, mine cavity monitoring, and industrial process control, as well as space-proven sensors. RBC Capital Markets acted as exclusive financial advisor to Optech in connection with the transaction.
About Teledyne Technologies
Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies operations are primarily located in the United States, Canada, the United Kingdom and Mexico. For more information, visit Teledyne Technologies website at www.teledyne.com
For further information, please contact:
Wayne Szameitat
International Sales Manager
Optech Incorporated
300 Interchange Way
Vaughan, Ontario, Canada L4K 5Z8
+1 905 660 0808
inquiries@optech.ca