Electronic subsystem provider Teledyne Technologies Inc. (TDY) Tuesday said its subsidiary, Teledyne Instruments, Inc., completed the acquisition of assets of Webb Research Corp. for an undisclosed amount. After closing the deal, Webb Research would be named as Teledyne Webb Research.
Webb Research, located in East Falmouth, Massachusetts, is a manufacturer of autonomous underwater gliding vehicles, as well as autonomous profiling drifters and floats.
Thousand Oaks, California-based Teledyne noted that Webb Research's gliders are used in a variety of application ranging from oceanographic research programs to military persistent surveillance systems and mobile nodes for subsea communication networks.
The gliders are designed to harness changes in buoyancy in conjunction with wings and tail steering to convert vertical motion to horizontal, and thereby propel the system on a programmed route with very low power consumption.
Webb Research had sales of $12.2 million for its fiscal year ended December 31, 2007.
TDY is currently trading at $50.26, up $1.25 or 2.55%, on a volume of 0.14 million shares.
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