Headwaters advised BlueView Technologies of Seattle, Washington, a developer of advanced sonar mapping technology, on the sale of the company to Teledyne Technologies Incorporated of Thousand Oaks, California.
Lee Thompson, CEO of BlueView, commented, “The Headwaters team has known us and our unique position in the marketplace for several years. They understand the market dynamics and skillfully helped us to explore our options, so that we knew Teledyne and this deal were right for us. This was an excellent outcome for our team and for our shareholders.”
John Ippolito, Managing Director at Headwaters MB, added, “We have been fortunate to work with a world-class undersea technology company like BlueView. Lee and his team are smart technologists and entrepreneurs and we believe this partnership with Teledyne will allow the company to continue its rapid growth.”
Ippolito continued, “Undersea robotics and vision technologies are a specialized niche within Headwaters’ burgeoning industrial technology practice. This deal represents the sixth successful industrial technology transaction that we have closed in the last year.”
Terms of the transaction were not disclosed.