Teledyne acquires Micralyne from FTC Technologies

Teledyne Technologies Incorporated (NYSE: TDY) through its subsidiary, Teledyne Digital Imaging, Inc., has acquired Micralyne Inc. Financial terms were not disclosed.

Edmonton, Alberta based Micralyne is a privately-owned foundry providing Micro Electro Mechanical Systems or MEMS devices. In particular, Micralyne possesses unique microfluidic technology for biotech applications, as well as capabilities in non-silicon-based MEMS (e.g. gold, polymers) often required for human body compatibility.

A spinoff of the University of Alberta, Micralyne was acquired by FTC Technologies Inc. in January 2015.

FTC Technologies is a private investment firm owned by Ric Forest.

photo credit: Micralyne Inc.

News Release

Teledyne Acquires Micralyne

September 03, 2019 08:00 AM Eastern Daylight Time

THOUSAND OAKS, Calif.–(BUSINESS WIRE)–Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Digital Imaging, Inc., has acquired Micralyne Inc. (“Micralyne”). Based in Edmonton, Alberta, Canada, Micralyne is a privately-owned foundry providing Micro Electro Mechanical Systems or MEMS devices. In particular, Micralyne possesses unique microfluidic technology for biotech applications, as well as capabilities in non-silicon-based MEMS (e.g. gold, polymers) often required for human body compatibility.

MEMS devices, which contain miniaturized mechanical and electro-mechanical elements, are manufactured using unique microfabrication techniques and process expertise. Through Teledyne DALSA, Teledyne’s existing MEMS foundry in Bromont, Quebec, supplies major companies with high-volume MEMS manufacturing for a wide range of applications including consumables used in life sciences and semiconductor fabrication. In its annual research report, the Status of the MEMS Industry 2019, Yole Développement cited Teledyne DALSA as a leading pure-play foundry for MEMS.

“Micralyne’s technology, processes, and strong product development pipeline ideally complement Teledyne’s state of the art 200 mm (8 inch) manufacturing capability and expertise,” said Robert Mehrabian, Executive Chairman of Teledyne. “The acquisition of Micralyne solidifies Teledyne as the number one independent multi-product MEMS foundry in the world.”

About Teledyne

Teledyne is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne’s operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne’s website at www.teledyne.com.

Forward-Looking Statements Cautionary Notice

This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to an acquisition of a business. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and Micralyne to achieve anticipated synergies, as well as market and economic conditions beyond Teledyne’s control, could change anticipated results. There are additional risks associated with operating businesses internationally, including those arising from United States and foreign government policy and regulatory changes or actions and exchange rate fluctuations.

Contacts

Jason VanWees
(805) 373-4542

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.