Teledyne Acquires CDL, Specialist in Marine Engineering

  Teledyne Acquires CDL, Specialist in Marine Engineering

Business Wire

THOUSAND OAKS, Calif. -- October 22, 2013

Teledyne Technologies Incorporated (NYSE:TDY) announced today that its
subsidiary, Teledyne Limited, has acquired C.D. Limited (CDL). Headquartered
in Aberdeen, Scotland, CDL is a leading supplier of subsea inertial navigation
systems and motion sensors for a variety of marine applications. Terms of the
transaction were not disclosed.

CDL designs and manufactures a variety of sensors including gyrocompasses,
attitude and heading reference systems, and inertial navigation systems. In
particular, CDL has pioneered the development of small form factor inertial
measurement systems for use in subsea applications where space is at a
premium, such as on-board remotely operated vehicles (ROVs). CDL also offers
advanced control and monitoring technologies for subsea infrastructure and
engineering activities. The acquired business will operate under the name
Teledyne CDL Limited.

“Through CDL and our other marine instrumentation companies, Teledyne provides
surface and subsea inertial measurement and motion sensing solutions based on
a number of different technologies including mechanical, ring laser and fiber
optic gyrocompasses and dynamic motion sensors, as well as acoustic navigation
systems,” said Robert Mehrabian, chairman, president and chief executive
officer of Teledyne. “Furthermore, utilizing Teledyne’s acoustic modems, CDL
has been developing complete motion sensing and communication systems for the
real-time monitoring of subsea energy infrastructure. As a combined company
with complementary technology and greater global reach, our goal is to
accelerate the development and deployment of these systems for our subsea oil
and gas customers. The addition of CDL to our marine instrumentation portfolio
provides an exciting opportunity to deliver integrated systems and solutions
utilizing the wide range of Teledyne products to satisfy a broad spectrum of
marine applications.”

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.

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 CDL 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 operating businesses
internationally, including those arising from United States and foreign
government policy and regulatory changes or actions and exchange rate
fluctuations.

Contact:

Teledyne Technologies
Investors:
Jason VanWees, 805-373-4542
or
Press:
Robyn McGowan, 805-373-4540