A subsidiary of Teledyne Technologies Inc. has acquired a majority interest in Nova Research Inc., a Central Coast developer of camera electronics.
Teledyne of Thousand Oaks on Friday said that the investment by its Teledyne Scientific & Imaging LLC will bolster its ability to offer infrared imaging systems for the commercial and military market. Solvang-based Nova Research, also known as Nova Sensors, designs infrared camera systems and integrated circuits.
Teledyne has the option to purchase all of Nova Research after three years. Other terms of the deal were not disclosed.
“Our investment in Nova Sensors further increases Teledyne’s involvement in infrared imaging systems for both commercial and tactical military operations,” Chief Executive Robert Mehrabian said in a statement. In addition to digital imaging products, Teledyne makes sophisticated instrumentation, electronics and engineered systems.
Shares were up $1.10, or 2 percent, to $50.19 in midday trading on the New York Stock Exchange.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Teledyne Adds Digital Imaging Expertise
- Teledyne Invests in Security Equipment Company
- Teledyne Makes Acquisition
- Teledyne Buying Spree Continues
- Teledyne Dalsa Buys Dutch Chip Maker
- Teledyne Buys Pennsylvania Company
- Teledyne Acquisitions Highlight Strength of L.A. Aerospace
- Teledyne to Buy Marine Instrument Company