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Teledyne Acquires Axiom IC



  Teledyne Acquires Axiom IC

Business Wire

THOUSAND OAKS, Calif. -- May 13, 2013

Teledyne Technologies Incorporated (NYSE:TDY) announced today that its
subsidiary, Teledyne DALSA B.V., has acquired Axiom IC B.V., a fabless
semiconductor company that develops high-performance CMOS mixed-signal
integrated circuits. Terms of the transaction were not disclosed.

Located in Enschede, the Netherlands, Axiom IC was founded in 2007 and is a
spin-off from the University of Twente. Axiom IC’s customers include global
companies in a number of industries, including space systems, wireless
communications, automotive and medical technologies. Axiom has delivered
important design breakthroughs including high speed, high resolution analog to
digital converters and advanced audio signal processing chips.

“The acquisition of Axiom adds an innovative team of skilled engineers to
Teledyne,” said Robert Mehrabian, chairman, president and chief executive
officer of Teledyne. “While continuing to serve external customers, Axiom will
provide additional resources to benefit both our digital imaging and
electronic test & measurement instrumentation businesses.”

“The Axiom team will further enhance our ability to bring to our customers
innovative and highly differentiated CMOS-based image sensor and camera
products,” said Brian Doody, chief executive officer of Teledyne DALSA, Inc.
“Axiom’s unique mixed-signal design expertise and experience represent a
valuable strengthening of our design capabilities across the company,
complementing our existing expertise in CMOS image sensor design, high voltage
driver chips for MEMS, and embedded software development.”

About Teledyne Technologies

Teledyne Technologies is a leading provider of sophisticated instrumentation,
digital imaging products and software, aerospace and defense electronics, and
engineered systems. Teledyne Technologies’ operations are primarily located in
the United States, Canada, the United Kingdom and Mexico. For more
information, visit Teledyne Technologies’ website at www.teledyne.com.

About Teledyne DALSA

Teledyne DALSA, a Teledyne Technologies company, is an international leader in
high performance digital imaging and semiconductors with approximately 1,000
employees worldwide, headquartered in Waterloo, Ontario, Canada. Established
in 1980, the company designs, develops, manufactures and markets digital
imaging products and solutions, in addition to providing MEMS products and
services. For more information, visit www.teledynedalsa.com.

Forward-Looking Statements Cautionary Notice

This press release contains forward-looking statements, as defined in the
Private Securities Litigation Reform Act of 1995, relating to a recent
acquisition of a company. Actual results could differ materially from these
forward-looking statements. Many factors, including the ability of Teledyne
and Axiom to achieve anticipated synergies, as well as market and economic
conditions beyond either company’s control, could change anticipated results.
There are additional risks associated with investing in businesses
internationally, including those arising from United States and foreign
government policy and regulatory changes or actions and exchange rate
fluctuations.

Contact:

Teledyne Technologies Incorporated
Investor Contact:
Jason VanWees, 805-373-4542
or
Press Contact
Robyn McGowan, 805-373-4540
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