Teledyne Technologies Inc. on Monday said that it intends to acquire VariSystems Inc., a Canadian maker of connectors, cables and other components used in mining, energy and other natural resources industries.

Chief Executive Robert Mehrabian said the deal will make his Thousand Oaks company more competitive in selling to businesses involved in hydraulic fracturing, oil sands processing and other land-based energy extraction.

“VariSystems’ interconnect products further expand Teledyne’s strong portfolio of rugged connecter solutions used in energy exploration and production,” said Mehrabian, whose company also makes electronic components and subsystems

Terms of the transaction were not disclosed. VariSystems, based in Calgary, Alberta, had sales of $27.5 million in its last fiscal year, Teledyne said. After the deal closes, VariSystems will be known as Teledyne VariSystems.

Teledyne shares were up 20 cents, or less than 1 percent, to $61.14 in midday trading on the New York Stock Exchange.