Teledyne Acquires Majority Interest in NL Acoustics

Rhea-AI Summary

Teledyne Technologies (NYSE:TDY) has acquired a majority interest in Noiseless Acoustics Oy, based in Helsinki, Finland. The company specializes in acoustic imaging instruments and predictive maintenance solutions. The financial terms of the deal remain undisclosed. This acquisition aims to enhance Teledyne’s offerings in condition monitoring and safety solutions, leveraging NL Acoustics’ advanced imaging technology for applications in power distribution and factory monitoring. Founders Kai Saksela and Jonas Nyberg will maintain a minority stake and continue their leadership roles.

Positive

• Acquisition strengthens Teledyne's position in the condition monitoring and safety solutions market.
• NL Acoustics' advanced imaging technology enhances Teledyne's product offerings.
• Established partnership since 2019 indicates potential for smooth integration and collaboration.

Negative

• None.

THOUSAND OAKS, Calif.--(BUSINESS WIRE)-- Teledyne Technologies Incorporated (NYSE:TDY) (“Teledyne”) announced today that it has acquired a majority interest in Noiseless Acoustics Oy (“NL Acoustics”). NL Acoustics, located in Helsinki, Finland, designs and manufactures acoustics imaging instruments and predictive maintenance solutions. Terms of the transaction were not disclosed.

NL Acoustics’ camera products combined with advanced analytics provide easy-to-use advanced imaging and monitoring solutions. Users can detect critical problems and make intelligent maintenance decisions in multiple applications, such as electric power distribution, compressed air systems and factory condition monitoring.

Kai Saksela and Jonas Nyberg, who founded NL Acoustics in 2015, will retain a minority stake in the business and continue in their current executive leadership roles with the company.

“Having worked with NL Acoustics since 2019, we are delighted to strengthen our partnership with the company,” said Rickard Lindvall, General Manager of Teledyne FLIR Solutions. “Collectively, Teledyne and NL Acoustics provide a wide range of condition monitoring and safety solutions, including acoustic imaging systems, optical gas leak detection cameras, and hazardous gas and flame detection instrumentation.”

About Teledyne

Teledyne is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne’s operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne’s 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 an investment and a potential acquisition of a company. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and NL Acoustics, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220715005100/en/

Jason VanWees

(805) 373-4542

Source: Teledyne Technologies Incorporated

FAQ

What is the significance of Teledyne's acquisition of Noiseless Acoustics Oy?

The acquisition enhances Teledyne's capabilities in condition monitoring and safety solutions by integrating NL Acoustics' advanced imaging technology.

When was the acquisition of Noiseless Acoustics Oy announced?

The acquisition was announced on the date of the press release, which does not specify an exact date.

What are the expected benefits of Teledyne acquiring Noiseless Acoustics Oy?

The expected benefits include improved product offerings in predictive maintenance and condition monitoring applications.

Who are the founders of Noiseless Acoustics Oy?

The founders of Noiseless Acoustics Oy are Kai Saksela and Jonas Nyberg, who will continue in their leadership roles post-acquisition.

Does the acquisition financially strain Teledyne Technologies?

The financial terms of the acquisition have not been disclosed, so the impact on Teledyne's finances remains unclear.