Teledyne Acquires Falmouth Tech Park Manufacturer

East Falmouth MA – In early July 2008, Teledyne Technologies Incorporated (NYSE: TDY) through its subsidiary, Teledyne Instruments, Inc., completed the acquisition of the assets of Webb Research Corp.

Webb Research, located in E. Falmouth, Mass., is the world’s leading manufacturer of autonomous underwater gliding vehicles, as well as autonomous profiling drifters and floats. Terms of the transaction were not disclosed.

Webb Research adds autonomous underwater vehicle systems to Teledyne Marine’s portfolio of marine electronic subsystems, including acoustic modems, acoustic and inertial navigation systems, acoustic Doppler current profilers and subsea electrical and optical interconnect solutions. Webb Research’s gliders are autonomous underwater vehicles (AUVs) that use changes in buoyancy in conjunction with wings and tail steering to convert vertical motion to horizontal, and thereby propel the system on a programmed route with very low power consumption. Applications of gliders range from oceanographic research programs to military persistent surveillance systems and mobile nodes for subsea communication networks.

In fiscal year ended December 31, 2007 Webb Research had sales of $12.2 million. After the closing, the acquired business will operate under the name Teledyne Webb Research.

Teledyne Technologies is a Thousand Oaks, California based provider of sophisticated electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems. Teledyne Technologies’ operations are primarily located in the United States, the United Kingdom and Mexico.