Teledyne Technologies To Acquire Rockwell Scientific Company
As part of the acquisition, Rockwell Automation and Rockwell Collins have entered into service agreements to continue funding research performed by Rockwell Scientific. In addition, Teledyne has agreed to license certain intellectual property of Rockwell Scientific to Rockwell Automation and Rockwell Collins. For its fiscal year ended September 30, 2005, Rockwell Scientific had revenue of $114 million.
Through its Imaging division based in Camarillo, Calif., Rockwell Scientific designs and manufactures specialized optical sensors and subsystems for the infrared and visible spectrums, as well as advanced military laser protection eyewear. The Imaging division is a provider of highly sensitive space-based focal plane array sensors for both military and space science markets. In addition, the Imaging division is one of the companies selected by the U.S. Army to develop manufacturing processes to support production of third generation dual band infrared imagers that will allow warfighters to identify threats on the battlefield before the enemy can detect their presence. Rockwell Scientific's research and development division, based in Thousand Oaks, Calif., provides research and engineering services primarily in three major market areas: electronics, materials technology and information sciences. R&D services customers include government entities, such as the Defense Advanced Research Projects Agency (DARPA) and the U.S. Air Force, as well as aerospace and defense companies. Prime contracts with the U.S. Government represented greater than fifty percent of the sales in fiscal 2005 for Rockwell Scientific's R&D services division.
"Rockwell Scientific possesses advanced technology related to multiple Teledyne operations and will become a core business of Teledyne," said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. "For example, Rockwell Scientific's extensive R&D capabilities for microwave and millimeter-wave semiconductors, RF MEMS, and very high-speed mixed signal circuits, are complementary to several Teledyne business units that manufacture microwave components and subsystems for military radar, electronic warfare and communication systems. Rockwell Scientific and Teledyne, via its Teledyne Brown Engineering subsidiary, also have complementary capabilities for software development, modeling and simulation, and government systems engineering.
"Furthermore, by combining Teledyne's defense electronics manufacturing capabilities with Rockwell Scientific's advanced imaging technology, we believe that Teledyne may be able to accelerate development and production of next generation tactical infrared sensors and subsystems. Finally, through its longstanding relationships with several government entities, including DARPA, the Air Force Research Laboratory and the U.S. Army Night Vision and Electronic Sensors Directorate, Rockwell Scientific offers a window into future defense electronics technology and system requirements, which may benefit Teledyne's existing research and development efforts."
SOURCE: Teledyne Technologies