Teledyne Invests in Ocean Aero, a Designer of Marine Autonomous Vehicles

  Teledyne Invests in Ocean Aero, a Designer of Marine Autonomous Vehicles

Business Wire

THOUSAND OAKS, Calif. -- July 2, 2014

Teledyne Technologies Incorporated (NYSE:TDY) announced today that it has
invested in and entered into a strategic partnership with Ocean Aero, Inc.
Based in San Diego, Calif., Ocean Aero is designing an unmanned surface
vehicle that will also have the ability to descend subsea. Terms of the
transaction were not disclosed.

Unlike traditional unmanned surface vehicles or autonomous underwater vehicles
(AUVs), Ocean Aero is designing the Submaran, a vehicle capable of operating
in both surface and sub-surface environments. While still in development, the
Submaran would provide a unique set of capabilities to the scientific,
defense, and oil and gas communities. For example, the vehicle would have
efficient propulsion and communication while on the surface, and the ability
to dive could provide water column analysis, stealth and hazardous weather

“The investment in Ocean Aero further broadens Teledyne’s portfolio of marine
technologies and autonomous systems,” said Robert Mehrabian, Chairman,
President and Chief Executive Officer of Teledyne. “Ocean Aero’s planned
unmanned underwater/surface vehicles, powered by wind and solar, complement
Teledyne’s battery-powered Gavia AUVs and market-leading autonomous gliding
vehicles using buoyancy-based propulsion.”

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 Western and Northern
Europe. For more information, visit Teledyne Technologies’ website at

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
investment. Actual results could differ materially from these forward-looking
statements. Many factors, including the ability to design products and achieve
anticipated growth, as well as market and economic conditions beyond either
company’s control, could change anticipated results.


Teledyne Technologies Incorporated
Jason VanWees, 805-373-4542
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