Monday, July 6, 2015

Teledyne Increases Stake in Robot Maker Ocean Aero

Thousand Oaks-based Teledyne Technologies has increased its stake in San Diego-based Ocean Aero, a developer of unmanned, robotic underwater and surface vehicles used for the scientific, defense, and oil and gas market, the company said late Friday. Financial terms of the deal were not disclosed. According to Teledyne, it now owns 37 percent of Ocean Aero. Teledyne made its initial investment in Ocean Aero in July of 2014. Ocean Aero's unmanned, robotic vehicles can travel on both the surface of the water as well as underwater.

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