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

How Edge Computing Can Elevate Your Business

By: Maurice Nagle    1/22/2021

Edge computing is central to these predictions, and underpinning these positive projections is 5G. During next week's virtual event, "Competitive Edge…

Read More

Framing up a Simpler Way to Scale, EdgeX Foundry Ends 2020 With Hanoi Release

By: Arti Loftus    1/20/2021

The IoT edge continued to grow in 2020, accelerating, according to some analysts, given the COVID-19 response and shift to remote working, remote moni…

Read More

Meeting the Need of the Enterprise for a Global IoT Deployment

By: Carl Ford    1/20/2021

When it comes to enterprises deploying IoT globally, there are several issues that their service provider partners need to address to ensure a success…

Read More

Teledyne Agrees to Purchase FLIR Systems for $8 Billion

By: Maurice Nagle    1/4/2021

Teledyne Technologies and FLIR Systems jointly announced a definitive agreement where Teledyne will purchase FLIR for approximately $8 billion. The ca…

Read More

Connecting Things with LoRaWAN in the Golden State: California CLEC Partners with Senet To Deploy and Scale IoT Networks

By: Arti Loftus    12/18/2020

As evidence that Competitive Local Exchange Carriers (CLECs) in the US are pushing beyond their traditional voice and data offerings, GeoLinks, a Cali…

Read More