Teledyne Technologies ( TDY) agreed to acquire the Rockwell Scientific venture of Rockwell Automation ( ROK) and Rockwell Collins ( COL) for $167.5 million in cash. Teledyne agreed to license certain intellectual property of Rockwell Scientific to Rockwell Automation and Rockwell Collins, both of which entered into service agreements to continue funding research at Rockwell Scientific. Rockwell Scientific, headquartered in Thousand Oaks, Calif., is a leading provider of research and development services, as well as a leader in developing and manufacturing infrared and visible light imaging sensors for surveillance applications. For its fiscal year ended Sept. 30, 2005, Rockwell Scientific had a revenue of $114 million. Los Angeles-based Teledyne Technologies provides electronic components, instruments and communication products, systems engineering solutions, aerospace engines and on-site gas and power generation systems.