Teledyne has aquired CARIS, a developer of geospatial software designed for the hydrographic and marine community.
The companies did not disclose the terms of the transaction. The closing of the transaction, which is subject to customary conditions, is anticipated to occur in the second quarter of 2016.
“By providing powerful data processing, mapping and geospatial imaging software, CARIS ideally complements both our marine instrumentation and digital imaging businesses,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “CARIS immediately extends our marine capabilities, advancing the delivery of imaging and information from Teledyne’s broad portfolio of marine sensors and systems. Furthermore, we believe that CARIS will help Teledyne further improve our software and real-time processing tools across our sonar and bathymetric and topographic LIDAR businesses.”
“The combination of CARIS with Teledyne is a positive development for the company’s owners, employees, and customers,” said Dr. Salem Masry, C.M., Founder, President and Chief Executive Officer of CARIS. “I am pleased to see CARIS continue its name and operations, including its presence in Fredericton, the Netherlands, the U.S., the U.K. and Australia, while offering employees additional opportunities for collaboration and advancement across Teledyne.”