New York-listed Teledyne Technologies has acquired Cyprus-headquartered navigation specialist ChartWorld International. Terms of the transactions have not been disclosed.
“ChartWorld’s maritime navigation software and hardware tools bridge a product and technology gap between our Teledyne Marine and Raymarine businesses,” said Robert Mehrabian, Teledyne’s chairman. “Furthermore, the acquisition adds to our software capabilities and recurring revenue, while expanding our customer base to include commercial Safety of Life at Sea (SOLAS) class vessels and their commercial fleet operators. We are pleased to have now completed our second acquisition for the Teledyne FLIR and Raymarine organisations in the last six months.”
