Teledyne acquires Colorado company

Tuesday, August 08, 2006

By WAYNE SMITH

Times Business Editor wayne.smith@htimes.com

$17.5 million deal opens new markets for defense contractor

Teledyne Brown Engineering Inc. said Monday that its acquisition of a Colorado company will put it in better position to help warfighters on the ground, bringing new opportunities for Huntsville's defense community.

On Monday, Huntsville-based Teledyne Brown announced the acquisition of CollaborX for $17.5 million. Teledyne said the purchase will provide it access to new markets and put it in better position to win defense contracts and bring more jobs to Huntsville.

"Huntsville companies tend to build systems rather than get involved in the tactics and conduct of a ground war,'' said Mike Scherer, vice president of business development for Teledyne Brown. "We tend to build missiles, rockets and other things after they have been defined. Few companies have presence here that get involved early on how a system will be used in the warfighting arena.

"CollaborX will give us an early look at what's coming down the pipe. They'll be able to provide input to us that will be very good for Teledyne Brown and the government.''

Teledyne Brown, which has about 1,600 employees, is a subsidiary of California-based Teledyne Technologies Inc.

CollaborX provides engineering services primarily to the Air Force and select joint military commands, such as the Missile Defense Agency, the Joint Forces Command and the Northern Command. CollaborX has 110 employees and generated revenue of $13.6 million last year.

Scherer said Huntsville also has developed a strong link with Colorado Springs and missile defense work, making it important for Teledyne Brown to have a presence there. He said the acquisition also represents a new business area for Huntsville.

"Most acquisitions and mergers here have people buying into Huntsville,'' Scherer said. "This is an example of a Huntsville company buying out to gain more access to the defense community. It's a new approach.''

Scherer said the agreement leverages the technology base here and uses it as a national asset. "CollaborX gives us presence in a lot of new areas, allowing engineers and scientists here to work on programs remotely,'' he said. "Instead of all the companies in town competing for workers here, we're looking to bring work into town from other locations, to introduce Teledyne and our capabilities.''

John Hawley, chairman and CEO of CollaborX, said the agreement strengthens CollaborX's ability to support the defense and homeland security industries.



Teledyne acquires Colorado company Tuesday, August 08, 2006 By WAYNE SMITH Times Business Editor wayne.smith@htimes.com $17.5 million deal opens new markets for defense contractor Teledyne Brown Engineering Inc. said Monday that its acquisition of a Colorado company will put it in better position to help warfighters on the ground, bringing new opportunities for Huntsville's defense community. On Monday, Huntsville-based Teledyne Brown announced the acquisition of CollaborX for $17.5 million. Teledyne said the purchase will provide it access to new markets and put it in better position to win defense contracts and bring more jobs to Huntsville. "Huntsville companies tend to build systems rather than get involved in the tactics and conduct of a ground war,'' said Mike Scherer, vice president of business development for Teledyne Brown. "We tend to build missiles, rockets and other things after they have been defined. Few companies have presence here that get involved early on how a system will be used in the warfighting arena. "CollaborX will give us an early look at what's coming down the pipe. They'll be able to provide input to us that will be very good for Teledyne Brown and the government.'' Teledyne Brown, which has about 1,600 employees, is a subsidiary of California-based Teledyne Technologies Inc. CollaborX provides engineering services primarily to the Air Force and select joint military commands, such as the Missile Defense Agency, the Joint Forces Command and the Northern Command. CollaborX has 110 employees and generated revenue of $13.6 million last year. Scherer said Huntsville also has developed a strong link with Colorado Springs and missile defense work, making it important for Teledyne Brown to have a presence there. He said the acquisition also represents a new business area for Huntsville. "Most acquisitions and mergers here have people buying into Huntsville,'' Scherer said. "This is an example of a Huntsville company buying out to gain more access to the defense community. It's a new approach.'' Scherer said the agreement leverages the technology base here and uses it as a national asset. "CollaborX gives us presence in a lot of new areas, allowing engineers and scientists here to work on programs remotely,'' he said. "Instead of all the companies in town competing for workers here, we're looking to bring work into town from other locations, to introduce Teledyne and our capabilities.'' John Hawley, chairman and CEO of CollaborX, said the agreement strengthens CollaborX's ability to support the defense and homeland security industries. © 2006 The Huntsville Times © 2006 al.com All Rights Reserved.