Teledyne Buys Ocean Design For $30M

Los Angeles-based Teledyne Technologies has acquired Ocean Design, a Daytona Beach, Florida-based manufacturer of subsea, wet-mateable electrical and fiber-optic interconnect systems, the firm said Tuesday. Teledyne said it paid approximately $30M for the firm. ODI's equipment is used in offshore oil and gas production, oceanographic research, and military applications. Teledyne is a provider of electronic components for the systems engineering, aerospace, and other industries.