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Friday, Mar 29, 2024

Teledyne Subsidiary Increases Stake In Fiber-Optic Firm

A Teledyne Technologies Inc. subsidiary increased its stake in a Florida-based manufacturer of fiber-optic connect systems. With the purchase of $35 million of Ocean Design Inc. shares, Teledyne Instruments Inc. now owns 84 percent of the company. Teledyne Instruments is a subsidiary of Thousand Oaks-based Teledyne Technologies. Ocean Design, of Daytona Beach, makes fiber-optic systems used in offshore oil and gas production, oceanographic research, and military applications.

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