Teledyne Buys Lab Equipment FirmWednesday, April 9, 2014
A subsidiary of Teledyne Technologies Inc. acquired Photon Machines Inc., a Montana company that makes lab instrumentation equipment.
Terms of the deal between Teledyne Instruments Inc., in City of Industry, and Photon Machines, in Bozeman, Mont., were not disclosed. Teledyne Instruments is a unit of Teledyne Technologies, in Thousand Oaks.
Teledyne Chairman and Chief Executive Robert Mehrabian said the acquisition of Photon Machines complements the purchase last summer of CETAC Technologies, an Omaha, Neb. company that makes automated laboratory equipment.
“We are pleased to offer our customers a more complete product portfolio with the technology, sales and service under common ownership,” said Mehrabian, in a prepared statement.
Shares of Teledyne Technology rose 44 cents, or a fraction of a percent, to $95.04.