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NEWS@IMAGING

Always one step ahead

Teledyne Technologies to acquire DALSA

23 Dec 2010

Teledyne Technologies Incorporated (NYSE: TDY) ("Teledyne") and DALSA Corporation (TSX: DSA) ("DALSA") jointly announced today that they have entered into a definitive agreement that provides for the acquisition of DALSA Corporation by a wholly-owned subsidiary of Teledyne. Users of DALSA´s imaging technology could soon be benifiting from the Teledyne sensor technology in the near future.

Teledyne Technologies is a leading provider of sophisticated electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems. Teledyne Technologies' operations are primarily located in the United States, the United Kingdom and Mexico. Teledyne is a financially strong and globally acting technology company with approx. 8300 employees and a yearly revenue of approx. 1.8 Billion US dollar. DALSA is an international leader in high performance digital imaging and microelectromechanical systems (MEMS) with approximately 1000 employees worldwide.

”Teledyne and DALSA are each acknowledged leaders in digital imaging technology but our product lines and customer bases are almost entirely complementary. For example, DALSA produces among the world's most advanced visible light imaging sensors and cameras for commercial applications, while Teledyne produces extreme resolution infrared sensors and subsystems primarily for government applications,” said Dr. Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “The combined strengths of Teledyne's and DALSA's leading imaging technologies will allow us to develop new infrared and visible light products that serve our respective markets and customers. Furthermore, DALSA's custom MEMS capabilities will be augmented by having access to Teledyne's extensive MEMS research activities and advanced process technologies.”

Pursuant to the transaction, Teledyne will acquire all of the outstanding common shares of DALSA for CAD $18.25 per share payable in cash. The aggregate value for the transaction is approximately CAD $341 million, taking into account DALSA's stock options and net cash as of September 30, 2010. For the twelve months ended September 30, 2010, DALSA had sales of approximately CAD $201 million.

DALSA´s CEO Brian Doody said: “Our goal is to build upon our 30 year heritage of developing the world’s leading high performance digital imaging and semiconductor solutions and to accelerate our level of innovation. My senior executive team and I will continue to focus sharply on our R&D development but also draw on resources and capabilities that are available to us as part of a larger organization. This will translate into products and technology that are truly innovative, adding even more value for you and your customers.”

DALSA´s digital imaging products and solutions are amongst the most comprehensive in the market. DALSA have confirmed that the existing product strategy and product portfolio will continue only with the same sales channel, therefore these word leading products
will continue to be available from STEMMER IMAGING, including all the extended services of Europe´s largest imaging technology supplier.

Teledyne DALSA

Waterloo, Canada

Teledyne DALSA is one of the largest companies serving the machine vision industry and is unique in that it is vertically integrated; from sensor design and manufacture, through image capture and processing, to software for imaging optimisations and analysis.