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Teledyne Technologies Incorporated announced that its subsidiary, Teledyne Investment, Inc., has completed the acquisition of RD Instruments, Inc., for approximately $37 million. RD Instruments (RDI) designs and manufactures state-of-the-art acoustic Doppler instrumentation. Located in San Diego, Calif., the business will operate as Teledyne RD Instruments, Inc.
Teledyne funded the acquisition primarily from borrowings under its $280 million credit facility arranged with a syndicate of banks. RD Instruments had sales of approximately $29.0 million for its fiscal year ended Dec. 31, 2004.
"The acquisition of RD Instruments complements Teledyne's existing businesses in multiple market segments," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "For example, both RD Instruments and Teledyne Geophysical Instruments employ ultrasonic transducers to sense signals in water. Teledyne's existing lines of hydrophone arrays focus on passive detection primarily for the petrochemical exploration market, while RD Instruments is a leader in active acoustic transmission and reception for oceanographic, environmental and military applications. RDI's Acoustic Doppler Current Profilers perform precise measurement of currents at varying depths in oceans and rivers, and its Doppler Velocity Logs are used for navigation of civilian and military surface ships, unmanned underwater vehicles and U.S. Navy divers.
"Furthermore, both RDI and Teledyne Isco manufacture ultrasonic instruments that measure the flow rate of wastewater. The combination of Teledyne's cost-effective instruments and software with RDI's products, which provide the highest accuracy for large pipes, will permit Teledyne to offer a more complete portfolio of flow measurement solutions to our customers."