Teledyne buys minority stake in Optical Alchemy with option to take over company

Teledyne buys minority stake in Optical Alchemy

THOUSAND OAKS, Calif. — Teledyne Technologies Inc. said Tuesday that one of its subsidiaries has acquired a minority stake in Optical Alchemy Inc., a company that makes sensors for surveillance equipment.

Teledyne did not reveal how much its Teledyne Scientific & Imaging unit is investing in the company, which is privately held and based in Nashua, N.H. The company said its investment will deepen its involvement in developing surveillance systems used in military equipment.

It said the deal includes an option to buy a controlling stake in Optical Alchemy after three years and the entire company after five years.

In addition to electronic systems and communications products, Teledyne Technologies makes aerospace engines and power generation systems.