THOUSAND OAKS, Calif. – May 13, 2013 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne DALSA B.V., has acquired Axiom IC B.V., a fabless semiconductor company that develops high-performance CMOS mixed-signal integrated circuits. Terms of the transaction were not disclosed.

Located in Enschede, the Netherlands, Axiom IC was founded in 2007 and is a spin-off from the University of Twente. Axiom IC’s customers include global companies in a number of industries, including space systems, wireless communications, automotive and medical technologies. Axiom has delivered important design breakthroughs including high speed, high resolution analog to digital converters and advanced audio signal processing chips.

“The acquisition of Axiom adds an innovative team of skilled engineers to Teledyne,” said Robert Mehrabian, chairman, president and chief executive officer of Teledyne. “While continuing to serve external customers, Axiom will provide additional resources to benefit both our digital imaging and electronic test & measurement instrumentation businesses.”

“The Axiom team will further enhance our ability to bring to our customers innovative and highly differentiated CMOS-based image sensor and camera products,” said Brian Doody, chief executive officer of Teledyne DALSA, Inc. “Axiom’s unique mixed-signal design expertise and experience represent a valuable strengthening of our design capabilities across the company, complementing our existing expertise in CMOS image sensor design, high voltage driver chips for MEMS, and embedded software development.”

About Teledyne Technologies

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

About Teledyne DALSA

Teledyne DALSA, a Teledyne Technologies company, is an international leader in high performance digital imaging and semiconductors with approximately 1,000 employees worldwide, headquartered in Waterloo, Ontario, Canada. Established in 1980, the company designs, develops, manufactures and markets digital imaging products and solutions, in addition to providing MEMS products and services. For more information, visit www.teledynedalsa.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 a recent acquisition of a company. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne and Axiom to achieve anticipated synergies, as well as market and economic conditions beyond either company’s control, could change anticipated results. There are additional risks associated with investing in businesses internationally, including those arising from United States and foreign government policy and regulatory changes or actions and exchange rate fluctuations.

Investor Contact:
Jason VanWees, (805) 373-4542

Press Contact:
Robyn McGowan, (805) 373-4540