Teledyne Technologies Inc. announced on Tuesday that it has entered into an agreement to acquire Valeport Holdings Ltd. along with its associated companies.
Valeport is a company that was founded in 1969 and is based in Totnes, United Kingdom. The company specializes in the design and production of underwater sensors for a variety of sectors, including environmental, energy, construction and defense. The financial details of the acquisition were kept confidential.
George Bobb, the President and Chief Operating Officer of Teledyne, expressed his delight over the acquisition. He said, "We are thrilled to welcome Valeport into the Teledyne Marine family and broaden our technological capabilities." He further added, "Through a series of over 20 strategic acquisitions and consistent collaboration, Teledyne Marine combines imaging, instruments, interconnects, acoustics, as well as an entire subsea vehicle technology, to deliver comprehensive solutions to our clients."
