Teledyne in Bowtech Buy
Teledyne Technologies has acquired designer and manufacturer of underwater environment vision systems Bowtech Products through a U.K.-based subsidiary. Terms of the transaction were not disclosed.
Founded in 1989, Bowtech is a supplier of rugged cameras and LED lighting sources deployed in the extreme environments within the remotely operated vehicle (ROV), defense, oceanographic, nuclear and marine science industries.
“Bowtech fills a product gap in our broad portfolio of marine technologies, adding optical underwater cameras to our wide range of acoustic imaging and sonar solutions,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “Furthermore, as an established provider of subsea cameras, Bowtech can help accelerate the development of new underwater imaging products based on other digital imaging technologies within Teledyne. We also believe that Teledyne can enhance the sales of Bowtech’s products, particularly within the U.S., given the global reach of our Teledyne marine group companies.”
Steve Bowring, Managing Director of Bowtech, said: “The shareholders of Bowtech are delighted with the news. This transaction should allow the company, now in its 26th year, and its skilled staff to grow Bowtech’s product portfolio and international sales.”