FLIR to acquire B.C.-based Point Grey for US$253M
Founded in 1997, Point Grey develops equipment that is used in industrial, retail, scientific, traffic, mapping, and other advanced imaging applications. Its solutions apply to people-counting, medical diagnostic equipment, military and defence, and industrial automation.
According to FLIR, the acquisition will augment its OEM components business. It also fits in with FLIR’s existing expertise in thermal sensor technology which can remotely measure temperature and “see” through smoke and steam. FLIR says the acquisition will become a line of business called FLIR Integrated Imaging Solutions.
“We’re excited to add the broad range of innovative products from Point Grey to FLIR as together we have a unique capability to create advanced sensing solutions for the broad machine vision market,” said Andy Teich, President and CEO of FLIR, in a company statement.
“Thermal imaging technology provides vision systems customers an alternative imaging spectrum that offers a rich, largely untapped layer of information that can be further leveraged. Point Grey’s global presence and credibility in industrial vision systems provides a strong platform for us to integrate our leading thermal technology. Point Grey is a proven, high-performing business with an impressive set of products, customers, processes, and people, all of which we see as being highly synergistic and strategically significant to FLIR. We welcome the Point Grey employees to FLIR and look forward to creating highly valuable solutions for a wide array of intelligent imaging applications.”
The acquisition is expected to close in the fourth quarter of the year.