Menu

IoT FEATURE NEWS

Teledyne Agrees to Purchase FLIR Systems for $8 Billion

By

It’s safe to say, it’s a good time to be in the sensor business. From pharmaceutical research and medical imaging, to manufacturing, aerospace and defense, the Industrial Internet of Things (IIoT) is coming to life one sensor at a time in short order. Today, two firms underpinning this rapidly growing space became one.

Teledyne Technologies and FLIR Systems jointly announced a definitive agreement where Teledyne will purchase FLIR for approximately $8 billion. The cash and stock transaction has board of director approval from both sides, with closing forecast for sometime in the middle of 2021.

“At the core of both our companies is proprietary sensor technologies. Our business models are also similar: we each provide sensors, cameras and sensor systems to our customers. However, our technologies and products are uniquely complementary with minimal overlap, having imaging sensors based on different semiconductor technologies for different wavelengths,” said Robert Mehrabian, Executive Chairman of Teledyne.

FLIR flaunts the tagline, “The World’s Sixth Sense.” Teledyne is delivering proof “Everywhereyoulook.” The newly formed entity is empowering organizations with omniscience, whether it’s measuring ocean conditions during a storm or propelling efforts in autonomous vehicles.

Mehrabian continued, “For two decades, Teledyne has demonstrated its ability to compound earnings and cash flow consistently and predictably. Together with FLIR and an optimized capital structure, I am confident we shall continue delivering superior returns to our stockholders.”

FLIR stockholders will receive $28 in cash and .0718 shares of Teledyne common stock for each share of FLIR stock owned.

Stay tuned, as I’m sure there’s more to come from Teledyne in the coming months.




Edited by Maurice Nagle
SHARE THIS ARTICLE
Related Articles

iSIM Collaboration Fuels Accelerated IoT Deployment

By: Maurice Nagle    9/23/2021

Truphone announced a collaboration with Sony Semiconductor Israel Ltd. (Sony) and Kigen to enable mass IoT deployments.

Read More

From Startups to School Buses, Kajeet Delivers More Than Just Internet

By: Maurice Nagle    9/22/2021

Not to sound cliche, but the IoT takes a village. Much like raising a child, it requires planning, nurturing and the efforts of many to bring the IoT …

Read More

Senet and Helium Partnership Expands LoRaWAN Network Access Across the US

By: Matthew Vulpis    9/22/2021

Senet, Inc., a leading provider of cloud-based software and services platforms that enable global connectivity and on-demand network build-outs for th…

Read More

Sierra Wireless Opening Door to 5G World One Use Case at a Time

By: Maurice Nagle    9/21/2021

Sierra Wireless is looking to dive headfirst into 5G, underscored by the announcement of AVIWEST selecting Sierra's EM9191 5G New Radio (NR) module fo…

Read More

A Move Toward Pervasive LoRaWAN Network Coverage

By: Arti Loftus    9/15/2021

Earlier this year, ABI Research found that the LoRaWAN protocol is the leading license-exempt low-power wide-area (LPWA) network technology addressing…

Read More