A Totnes-based marine technology company, Valeport, is set to be acquired by Subsea technology company Teledyne Marine.

The deal marks an exciting new chapter for the independent family-owned business which has been a market leader in underwater sensors and profilers since 1969.

Valeport’s Managing Director, Matt Quartley, said: “Our family is very proud of Valeport’s journey to date, but the time is right for the next phase, and I’m so pleased that this will be as a part of Teledyne Marine. We have been careful to find a buyer for our family business that shares our values and commitment to innovation and outstanding customer service; Teledyne Marine was the natural choice for taking the business forward.”

Valeport has designed and manufactured instrumentation for the oceanographic and hydrographic communities for more than 50 years and has more than 115 employees at its premises in Totnes.

The company’s precision sensors and probes have experienced robust demand worldwide, leading to investments in new premises, production systems and staff over many years.

Teledyne Marine Europe’s Vice President, Ole Søe-Pedersen, said: “We are delighted that Valeport will join us and expand our technology offering. Valeport is a respected and recognised brand of underwater sensors and profilers and will complement the Teledyne Marine portfolio of technologies and solutions.”

Matt Quartley and his leadership team are working over the coming months with Teledyne Marine to ensure a smooth transition for all staff and customers.