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FLIR acquires DVTEL for US$92M
FLIR Systems announced Tuesday that it has acquired DVTEL for approximately US$92 million in cash.
December 2, 2015 By SP&T Staff
DVTEL, based in Ridgefield Park, New Jersey, is a provider of enterprise-class security and surveillance solutions. The company develops and distributes integrated video management system (VMS) software, advanced video analytics software, visible and thermal security cameras, and related servers and encoders.
According to a statement from FLIR: The combination enables FLIR, with its existing FLIR-branded thermal and visible cameras as well as its Lorex-branded security systems, to be a full-spectrum end-to-end security system provider, serving the consumer, small and medium business, enterprise and infrastructure-level markets.
“FLIR’s strong position in thermal imaging together with DVTEL’s extensive video analytics and VMS capability will position us well to offer differentiated and highly accurate perimeter security solutions for the upper corner of our Security segment’s product value ladder,” said Andy Teich, president and CEO of FLIR, in a statement.
“DVTEL adds a suite of professional-grade security software and hardware that is very complementary to our current solutions and fits very well with our strategy to offer end-to-end solutions in the enterprise and infrastructure segments of the security market.”
FLIR anticipates this transaction will be neutral to 2015 net earnings and accretive thereafter.
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