A subsidiary of Teledyne Technologies Inc. will buy the assets of an East Coast firm that makes underwater gliding vehicles, profiling drifters and floats. Terms of the deal were not disclosed. The purchase of the assets of Webb Research Corp. by Teledyne Instruments adds to existing company capabilities, to develop systems software, and offer fully integrated autonomous glider products. Teledyne Instruments is a subsidiary of Thousand Oaks-based Teledyne Technologies. Gliders are used for oceanographic research programs to military persistent surveillance systems and in subsea communication networks. Webb Research had sales of $12.2 million for its fiscal year ended December 31, 2007. After the closing, the acquired business will remain at its current location in E. Falmouth, Mass., and will operate under the name Teledyne Webb Research. Shares in Teledyne closed up at $53.89.
Gliding Into Teledyne