Teledyne completes purchase of Rockwell Scientific

Teledyne Technologies Incorporated announced September 18 that it has completed its acquisition of Rockwell Scientific Company LLC for $167.5 million in cash, with the sellers retaining certain liabilities. Rockwell Scientific, headquartered in Thousand Oaks, Calif., is a leading provider of research and development services, as well as a leader in developing and manufacturing infrared and visible light imaging sensors for surveillance applications.

Rockwell Scientific, which was 50 percent owned by each of Rockwell Automation Inc. and Rockwell Collins, Inc., will operate under the names Teledyne Scientific Company and Teledyne Imaging Sensors. Teledyne funded the acquisition primarily from borrowings under its $400 million credit facility. For its fiscal year ended September 30, 2005, Rockwell Scientific had revenue of $114 million.

Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom, Mexico and Canada.