Teledyne Acquires ChartWorld

Teledyne Acquires ChartWorld

On January 3, Teledyne Technologies Incorporated (NYSE: TDY), sometimes known as "Teledyne," declared that it had acquired ChartWorld International Limited and its affiliates. The deals' terms were kept private.

Teledyne is the industry leader in instrumentation, aerospace and defense electronics, engineered systems, and high-end digital imaging hardware and software. The central regions where Teledyne operates are the US, Canada, the UK, and Western and Northern Europe.

The headquarters of ChartWorld is in Cyprus, and it also has offices in Hamburg, Singapore, Vancouver, and Tokyo. It is one of the top suppliers of economical subscription-based hardware and software for digital marine navigation.

Customers of ChartWorld's software as a service (SaaS) for commercial maritime are entitled to free type-approved Electronic Chart Display and Information Systems (ECDIS), a lifetime warranty, and 24/7 assistance throughout the world.

In addition, Digital Electronic Navigational Charts (ENCs), as well as other geospatial software and services, are also offered by ChartWorld.

These include onshore software for fleet monitoring and risk analysis, as well as digital route appraisal and voyage planning.

SevenCs, a ChartWorld affiliate, has a long and honorable history of contributing to the creation of standards for the display of electronic marine charts.

SevenCs still offers other navigation system OEMs software for ENC manufacturing and distribution as well as software development kits for the presentation of electronic nautical charts in line with maritime standards.

"ChartWorld's maritime navigation software and hardware tools bridge a product and technology gap between our Teledyne Marine and Raymarine businesses," said Robert Mehrabian, Chairman, President, and Chief Executive Officer.

"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 organizations in the last six months," Mehrabian concluded.

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