Business and Finance

Teledyne to Acquire CARIS in Second Quarter of 2016

May 12, 2016 By International Dredging Review

Teledyne Technologies Inc. and CARIS jointly announced in April that the CARIS business and its international affiliates (collectively “CARIS”) have agreed to be acquired by a wholly-owned subsidiary of Teledyne. CARIS headquartered in Fredericton New Brunswick Canada is the developer of geospatial soft-ware designed for the hydrographic and marine community. 

Terms of the transaction were not disclosed. The closing of the transaction which is subject to customary conditions is anticipated to occur in the second quarter of 2016.

Founded in 1979 CARIS pioneered soft-ware for processing and visualizing sonar data as well as for producing managing and distributing marine geospatial information. To-day CARIS offers solutions for bathymetry sea-floor imagery and water column data processing capable of handling multiple types of sonar and LIDAR sensors simultaneously. CARIS also develops a complete suite of paper and electronic navigational chart production and management software. The company said approximately 90 percent of the world’s hydrographic offices use CARIS in their workflow.

“By providing powerful data processing mapping and geospatial imaging software CARIS ideally complements both our marine instrumentation and digital imaging businesses” said Robert Mehrabian chairman president and chief executive officer of Teledyne. “CARIS immediately extends our marine capabilities advancing the delivery of imaging and information from Teledyne’s broad portfolio of marine sensors and systems. Furthermore we believe that CARIS will help Teledyne further improve our software and real-time processing tools across our sonar and bathymetric and topographic LIDAR businesses.”

While it will complement Teledyne’s marine instrumentation companies and Teledyne PDS CARIS will become part of Teledyne’s Digital Imaging segment. CARIS will maintain and expand its advanced software solutions and sup-port for a wide range of sensor platforms data formats and acquisition software across the industry.