Teledyne Invests In Optical Alchemy

Thousand Oaks-based Teledyne Technologies announced today that it has acquired a minority interest in Optical Alchemy, a Nashua, New Hampshire-based designer and manufacturer of ultra-light electro optical gimbal systems. Financial terms of the investment were not disclosed. The firm said the strategic investment was made by its subsidiary, Teledyne Scientific & Imaging. Optical Alchemy's imaging systems are used for unmanned aerial vehicles for surveillance and targeting; Teledyne said it will be using Optical Alchemy's systems as part of its infrared and visible imaging systems for tactical military operations. The deal includes an option to purchase a controlling stake in Optical Alchemy after three years, and 100 percent of the firm after five years.