Teledyne Buys PE-Backed Underwater Imaging Co.

Law360, New York (January 29, 2013, 2:03 PM EST) -- Defense contractor Teledyne Technologies Inc. will swallow up a private equity-backed Danish firm that specializes in underwater imaging and sonar technology, marking its third pickup in the past year aimed at bolstering its imaging business, the companies said Tuesday.

Financial terms of the deal were not disclosed. It was unclear how target firm Reson AS’ current major shareholders — Maj Invest Equity, Dansk Erhvervsinvestering AS and Dansk Kapitalanlaeg — would split the consideration. The transaction is expected to close in the first quarter.

The deal builds...
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