Teledyne Technologies Incorporated announced on April 30 that its subsidiary,Teledyne DALSA, Inc., acquired the remaining minority interest in the parent company of Optech Incorporated, bringing its ownership to 100%.
In 2012, Teledyne DALSA increased its ownership interest in the company from 19% to 51%. At the time, Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne, noted that the company’s technologies would complement Teledyne’s existing portfolio.
"Optech’s LIDAR systems, which produce detailed three dimensional images, add a new level of capability to Teledyne’s portfolio of visible, infrared,X-ray and ultraviolet sensors, cameras and software," he said in 2012. "In addition, Optech’s bathymetric LIDAR systems used for coastal zone mapping and shallow water profiling are highly complementary with our marine survey sensors and systems."
As part of the original 19% investment in Optech in March 2011, Teledyne received an option to purchase 100% of the remaining shares of the company after three years, which Teledyne DALSA has now opted to do.
"We have always been excited by Optech’s strong technology and products," said Mehrabian in a May2015 press release. "In particular, the timing of this transaction demonstrates our confidence in recent product releases, including the new Galaxy and multi-wavelength Titan airborne mapping systems, as well as the updated workflow in Optech’s mobile imagers."
Optech, which is based out of Vaughan, ON, Canada, develops advanced laser-based survey and digital imaging instrumentation. Since 1974, the company has providedadvanced LIDAR systems used in airborne mapping and laser bathymetry, as well as mobile mapping and terrestrial imaging. The company’s imaging and mapping systems are used in such industries as energy, natural resources and infrastructure industries, as well as government customers.
View thepress release.
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