FLIR To Buy Point Grey Research For $253 Mln - Quick Facts

(RTTNews) - FLIR Systems, Inc. (FLIR) announced a definitive asset purchase agreement to acquire the business of Point Grey Research, Inc., a developer of machine vision cameras for use in industrial, retail, scientific, traffic, mapping, and other advanced imaging applications, for approximately $253 million in cash. FLIR said the addition of the Point Grey business will augment its existing OEM cores and components business by adding a broad range of visible spectrum machine vision cameras and solutions.

FLIR anticipates the business and related transaction costs will be approximately $0.01 dilutive to 2016 earnings per share and accretive for 2017. The transaction is expected to be completed in the fourth quarter of 2016.

Based in Richmond, British Columbia, Point Grey is a global leader in the development of advanced visible imaging cameras and solutions that are used in industrial automation systems, medical diagnostic equipment, people counting systems, intelligent traffic systems, military and defense products, and advanced mapping systems. Point Grey designs, manufactures, and distributes its cameras and related software to a global base of customers that build systems for improving the efficiency, quality, analysis, and safety of a wide range of processes and products.