FLIR Systems (Nasdaq: FLIR) has completed its purchase of Point Grey Research for $259 million cash in a strategy to expand the former™s footprint in intelligent imaging and machine vision markets.
The newly acquired company will operate as Integrated Imaging Solutions business under FLIR™s original equipment manufacturer and emerging markets segment, FLIR Systems said Friday.
British Columbia-based Point Grey Research develops visible imaging cameras and related platforms designed for use in industrial automation systems, military and defense platforms, medical diagnostic equipment, traffic systems, mapping and people counting systems.
Andy Teich, president and CEO of FLIR, said the transaction would help the company offer thermal technology platforms and deliver intelligent imaging tools for clients in the machine vision market.
FLIR said it expects the deal to be approximately $0.01 dilutive to its earnings per share in 2016 and accretive in 2017.
The acquisition comes nearly five months after FLIR purchased San Francisco-based night vision and thermal imaging equipment supplier Armasight for approximately $41 million cash.
