Totnes marine tech company Valeport acquired by US firm

A marine technology company in Totnes has been acquired by a US subsea tech and equipment firm for an undisclosed sum.
Valeport, which was established in 1969 and employs 115 people at its premises on St Peter’s Quay, will become part of Florida-headquartered Teledyne Marine under the terms of the agreement.
The Devon-based company designs and manufacturers underwater sensors and profilers. The firm said it would play a “crucial role” in supporting Teledyne’s global customer base following the deal.
Matt Quartley, Valeport managing director, said the family-run company was “incredibly excited” about becoming part of the larger company.
“Our family is very proud of Valeport’s journey to date, but …