A subsidiary of Teledyne Technologies Inc. has acquired a Pennsylvania manufacturer of precision components and subassemblies, it was announced Thursday.
The terms of the deal between Teledyne Instruments Inc. in City of Industry and Scientific Systems Inc. in State College, Pa. were not disclosed. Teledyne Instruments is owned by Teledyne Technologies in Thousand Oaks.
Scientific Systems was founded in 1967 and manufactures piston pumps for industries requiring precise fluid flow at high pressures.
Chief Executive Robert Mehrabian said that Teledyne benefits from the deal with access to life sciences customers and markets while Scientific Systems will receive opportunities and technologies in the industrial sector.
“We are proud to continue (Scientific Systems’) 50-year legacy of innovative, highly engineered products and outstanding customer service,” Mehrabian said in a prepared statement.
Shares in Teledyne (TDY) closed down $1.20, or less than 1 percent, to $133.66 on the New York Stock Exchange.