Teledyne Technologies, an electronic measurement equipment company known for aeronautical defense electronics and systems engineering, announced that it will acquire FLIR Systems, a leader in infrared and visible light imaging, in cash and stocks worth $80 billion.
Teledyne says the acquisition is aimed at strengthening its core sensor technology and is expected to strengthen its line-up of sensor imaging systems for the aerospace and defense sectors in the future.
Flare Systems, based in Oregon, U.S., was named on the S&P 500, and recently, the Military Department, which provided the U.S. Army with a micro-reconnaissance drone, the Black Hornet, and the NASA, a CMOS camera for the Mars rover. It is a company that possesses industrial infrared and dark technology.
Teledyne is focusing on camera image sensor technology as one of its flagship businesses, and is aiming to strengthen the business through this acquisition. According to Teledyne’s official announcement, the two companies have a common point in that sensor technology is the core of their business, but emphasizes that it is a complementary relationship rather than overlapping in technology and product.
Although the transaction itself has already been decided, the acquisition is expected to be completed by mid-2021, as the acquisition will take place after regulatory approval. Flare stockholders will allocate 0.0718 shares of Teledyne’s common stock in addition to $28 per share, and Flare’s stock price is rising at 19%. Meanwhile, Flare provides infrared sensors for consumers as well as military and industrial use. Related information can be found here .