Teledyne Technologies (NYSE: TDY) said yesterday that its subsidiary, Teledyne Digital Imaging, has acquired Micralyne Inc.
Edmonton, Alberta-based Micralyne manufactures microelectromechanical systems, or MEMS devices. The company has microfluidic technology for biotech applications and capabilities in non-silicon-based MEMS, such as gold and polymers, that are often required for human body compatibility.
Thousand Oaks, Calif.-based Teledyne is a conglomerate that provides instrumentation, digital imaging products and software, aerospace and defense electronics and engineered systems. The company’s existing MEMS foundry in Canada supplies high-volume MEMS manufacturing, and Teledyne’s leadership believes the acquisition will create a strong pairing between two complementary companies. Terms of the deal were not disclosed.
“Micralyne’s technology, processes and strong product development pipeline ideally complement Teledyne’s state of the art 200 mm (8 in.) manufacturing capability and expertise,” Teledyne executive chairman Robert Mehrabian said in a news release. “The acquisition of Micralyne solidifies Teledyne as the number one independent multi-product MEMS foundry in the world.”
Shares of TDY were up +1.6% at $314.21 in late-morning trading.
