28 December 2009
FLIR Systems Announces Acquisition of Directed Perception, Inc.
News Summary: FLIR Systems announced today that it has acquired the stock of Directed Perception, Inc., a leading provider of pan-tilt motion control systems for commercial and military markets, for $20 million cash.
PORTLAND, OR, Dec 28, 2009 (MARKETWIRE via COMTEX News Network) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has acquired the stock of Directed Perception, Inc., a leading provider of pan-tilt motion control systems for commercial and military markets, for $20 million cash.
Directed Perception, based in Burlingame, California, has earned a world-wide reputation as a pioneer and leader in high-performance pan-tilts in security and surveillance, maritime, military, robotics, and scientific instruments markets. Directed Perception's full-line of pan-tilt systems support payloads ranging from 6 to 90 pounds. The acquisition of Directed Perception will enhance and differentiate FLIR's pan-tilt-zoom camera systems for both commercial and military markets through lower cost, improved functionality and ease-of-use.
"The acquisition of Directed Perception expands FLIR's capabilities into a key enabling technology. Its technology can be integrated into many of our existing pan-tilt-zoom systems and has significant potential for future low-cost integrated solutions," commented Earl Lewis, President and CEO of FLIR. "We welcome Directed Perception's skilled and experienced team to FLIR."
Upon closing, Directed Perception has been re-named FLIR Motion Control Systems and will operate as a part of FLIR's Commercial Systems division. FLIR anticipates this transaction will be neutral to 2010 net earnings and accretive thereafter.
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