Teledyne Technologies Incorporated (Teledyne) and CARIS jointly announced today that the CARIS business and its international affiliates have agreed to be acquired by a wholly-owned subsidiary of Teledyne.
Terms of the transaction were not disclosed. The closing of the transaction, which is subject to customary conditions, is anticipated to occur in the second quarter of 2016.
Founded in 1979, CARIS pioneered software for processing and visualizing sonar data, as well as for producing, managing and distributing marine geospatial information.
Today, CARIS offers the most comprehensive solution for bathymetry, seafloor imagery and water column data processing, capable of handling multiple types of sonar and LIDAR sensors simultaneously. The company also develops a complete suite of paper and electronic navigational chart production and management software.
“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,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne.
“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,” said Dr. Salem Masry, C.M., Founder, President and Chief Executive Officer of CARIS.
While it will complement Teledyne’s marine instrumentation companies and Teledyne PDS, CARIS will become part of Teledyne’s Digital Imaging segment. CARIS will maintain and expand its advanced software solutions and support for a wide range of sensor platforms, data formats and acquisition software across the industry.