Teledyne Years
In June 1960, Singleton and George M. Kozmetsky, a colleague from Litton, formed a firm named Instrument Systems, located in Beverly Hills, California. Arthur Rock, one of America's first and most successful venture capitalists, financed the startup with a $450,000 investment and remained a Board Director for 33 years. With a Doctor of Commercial Science degree from Harvard and 10 years experience in industry, Kozmetsky complemented Singleton for developing a successful enterprise. Singleton served as Chairman and President, and Kozmetsky was the Secretary and Executive Vice President. Their basic plan was to build a major firm primarily through acquiring companies. In October, they acquired the majority of stock in Amelco, a small electronics manufacturing plant, and within a short time bought rights to the name Teledyne and its associated logo.
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