Teledyne Technologies to Buy Reson

Teledyne Technologies Incorporated

(“Teledyne”) and the shareholders of RESON A/S (“RESON”) jointly announced today that they have entered into a definitive agreement for the acquisition of RESON by a wholly-owned subsidiary of Teledyne. RESON, headquartered in Slangerup, Denmark, provides high-resolution marine acoustic imaging and measurement solutions. Terms of the transaction were not disclosed. The closing of the transaction, which is subject to customary conditions, is anticipated to occur in the first quarter of 2013. With over 30 years of experience and approximately 1,400 RESON echosounders sold worldwide, RESON is a leading provider of multibeam sonar systems and specialty acoustic sensors for hydrography, global marine infrastructure and offshore energy operations. RESON's multibeam sonar systems range from portable high-resolution shallow water systems used on autonomous underwater vehicles (AUVs) to full ocean depth vessel mounted oceanographic systems.