A subsidiary of Teledyne Technologies Inc. has acquired a microelectromechanical systems foundry based in Canada.
The terms of the deal between Teledyne Digital Imaging Inc. and privately owned Micralyne, in Edmonton, Alberta, were not disclosed.
Microelectromechanical systems is the technology of microscopic devices, particularly those with moving parts. Teledyne also owns a foundry making the micro-parts in Quebec.
Executive Chairman Robert Mehrabian said the acquisition makes Teledyne, in Thousand Oaks, the top independent multi-product microelectromechanical systems foundry in the world.
“Micralyne’s technology, processes and strong product development pipeline ideally complement Teledyne’s state-of-the-art 200 mm manufacturing capability and expertise,” Mehrabian said in a statement.
Shares in Teledyne (TDY) closed Tuesday up 69 cents, or a fraction of a percent, to $309.28 on the New York Stock Exchange.