Teledyne Lands Satellite Contract

The defense business unit of Teledyne Technologies Inc. has received a contract to contribute components to a micro satellite project for high-speed internet access. The Thousand Oaks-based aerospace, defense and marine equipment manufacturer will supply repeater components as part of the satellite payload to deliver broadband internet access on a global scale. “Teledyne is pleased to be a small part of OneWeb’s landmark initiative to create a constellation of satellites to deliver high-speed internet access globally and affordably,” Teledyne Chief Executive Robert Mehrabian said in a prepared statement. The proposal by OneWeb, in Arlington, Va., is to take a fleet of 900 micro satellites each weighing less than 300 pounds into low-earth orbit to provide high-speed Internet access directly to small user terminals deployed around the world. Last year, Virgin Galactic, based in Mojave, signed a contract for use of its LauncherOne rocket system to take the satellites into earth orbit. Virgin is also an investor in OneWeb. Financial terms of the Teledyne deal, announced Friday, were not disclosed. Shares closed Monday up $1.99 or 2 percent to $100.49 on the New York Stock Exchange.