Mooreland Partners served as financial advisor to RESON A/S on its sale to Teledyne Technologies Inc., the advisory firm announced. The deal is expected to close during the first quarter.
Mooreland Partners is pleased to announce that it acted as the exclusive financial advisor to RESON A/S (“RESON”) on its sale to Teledyne Technologies Inc. (NYSE:TDY) (“Teledyne”). 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.
“RESON ideally complements both our marine instrumentation and digital imaging businesses, and will represent our third acquisition in the last twelve months focused on three dimensional imaging,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “With RESON, Teledyne will possess the ability to provide detailed 3D imaging solutions, ranging from full ocean depth survey, shallow water and coastal zone imaging, terrestrial and airborne mapping, and even deep space science applications.”
RESON has its corporate headquarters in Slangerup, Denmark, with subsidiaries in the United Kingdom, the United States, the Netherlands and Singapore. RESON received funding from, among others, Maj Invest Equity, DKA Capital and Dansk Erhvervsinvestering.
This is Mooreland’s 27th announced transaction since January 2012 and is another example of Mooreland’s presence as a leading M&A advisor in industrial technology and electronics.
ABOUT MOORELAND PARTNERS: Mooreland Partners is the most active international technology-focused M&A advisory firm, serving clients from its offices in New York, Silicon Valley and London. In 2012, Mooreland Partners advised on a total of 26 transactions across all major technology sectors including communications and digital media, enterprise software and services, semiconductors and electronics. Founded in 2002, Mooreland Partners is an integrated global firm, 100% owned by its partners, with a team of over 40 investment banking professionals.