A subsidiary of Teledyne Technologies Inc. has acquired an interest in a company that manufactures core components used in aircraft navigation systems. Teledyne Scientific & Imaging LLC has an option to acquire a controlling interest in Optical Alchemy Inc. after three years, and full ownership after five years based on Optical’s performance. The investment, the details of which were not disclosed, increases Thousand Oaks-based Teledyne’s involvement in infrared and visible imaging systems for military operations, especially those using unmanned aircraft. Because of their low weight, the components made by Optical are well suited for unmanned aircraft, which require persistent surveillance and precise targeting, said Teledyne Chairman, President and CEO Robert Mehrabian. Thom Senzee
Teledyne Acquires Minority Stake in Navigation Systems Co.
