Teledyne Buys Remainder Of Ocean Design

Thousand Oaks-based Teledyne Technologies announced this moring that the firm's subsidiary, Teledyne Instruments, inc., has acquired the remaining portion of Ocean Design that the firm did not own. Teledyne said it paid approximately $19.6M to acquire the remaining 11 percent of Ocean Design. Ocean Design is a Florida-based manufacturer of undersea, electrical and fiber-optic interconnect systems used in oil and gas production, oceanographic research, and military applications. Teledyne had purchased the rest of Ocean Design in August of 2006 for $30M. Teledyne said that it will rename Ocean Design Teledyne ODI, Inc.