August 07, 2012
Teledyne Acquires Parent Company of PDM Neptec
By Meenakshi Shankar
Teledyne Technologies has evolved from a company primarily focused on aerospace and defense, to one that serves multiple markets that require advanced technology and high reliability. The company has developed a number of competitive strengths along with strategy of expanding its core business with targeted acquisitions.
Continuing this trend, Teledyne Technologies’ subsidiary, Teledyne Limited, completed the acquisition of the parent company of PDM Neptec Limited.
PDM Neptec, located in Hampshire, U.K., provides underwater cables, fiber optic and electrical subsea connectors and custom engineering solutions. The acquired company will now operate under the name Teledyne Impulse-PDM Ltd.
Other terms of this deal have yet to be disclosed.
“The thirteenth acquisition in our Teledyne Marine group, PDM Neptec further expands our line of harsh-environment marine interconnects provided by Teledyne,” said Robert Mehrabian, chairman, president and chief executive officer at Teledyne.
“In addition, PDM Neptec adds additional engineering talent and strengthens our international sales channels,” Mehrabian added.
“With the acquisition of PDM Neptec, a two-decade project of Peter Dennis, Teledyne is able to leverage PDM Neptec to develop further its European footprint,” said Susannah Dennis in a statement. “The transaction is a natural development for PDM Neptec, positive for employees, the local community, customers and suppliers.”
Teledyne Technologies is devoted to advancing science, acquiring and inventing new technology, and uses it to help its customers solve challenges in business and society. The company recently announced the appointment of Ruth E. Bruch, retired senior vice president and chief information officer at Kellogg Company, to the company's board of directors.
The firm also announced the retirement of John T. Kuelbs, executive vice president, general counsel and secretary of Teledyne.
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Edited by Braden Becker
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