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Friday, Mar 29, 2024

Teledyne Subsidiary Makes Full Acquisition of Fiber-Optic Firm

A Teledyne Technologies Inc. subsidiary has acquired the remaining shares of a Florida-based manufacturer of fiber-optic connect systems. Teledyne Instruments Inc. bought a majority share in Ocean Design Inc. in June 2008 for $35 million. The purchase of the remainder of the company cost $19.6 million. 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. With the full acquisition, the company’s name will change to Teledyne ODI Inc. Mark R. Madler

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