Teledyne Buys Bolt Technology

Thousand Oaks-based Teledyne Technologies said Wednesday afternoon that it has acquired Bolt Technology Corporation, a supplier of equipment for the offshore energy exploration market. According to Teledyne, it will pay approximately $171M for Bolt, or $22.00 per share cash for the publicly held company. Bolt, which was founded in 1965, develops replacement parts for offshore energy exploration, high-reliability underwater cables and connectors, electronic controllers, monitoring systems, and other related marine equipment, as well as its own line of miniature, underwater remotely operated vehicles.