Teledyne Technologies Inc. said Tuesday that a subsidiary has acquired a minority stake in Optical Alchemy Inc., which makes sensors for surveillance equipment.
Teledyne, based in Thousand Oaks, did not disclose how much the Teledyne Scientific & Imaging division invested in the private Nashua, N.H., company. The deal includes an option to buy a controlling stake after three years, and the entire company after five years.
Teledyne Technologies makes electronic systems, communications products, aerospace engines and power generation systems.
“Our investment in Optical Alchemy further increases Teledyne’s involvement in infrared and visible imaging systems for tactical military operations,” said Chief Executive Robert Mehrabian in a press release.
Shares were up 37 cents, or less than 1 percent, to $39.02 in midday trading on the New York Stock Exchange
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