As most likely know by now, FLIR Systems acquired Point Grey Research Inc. for an aggregate purchase price of $259 million in cash, or an enterprise value of $256 million excluding Point Grey’s closing cash balance.
The move was made in an effort to expand FLIR’s presence in machine vision, intelligent imaging for retail analytics, and visible cameras. Since 1997, the Richmond, BC, Canada-based company has developed advanced visible imaging cameras and solutions deployed in applications such as industrial automation, medical diagnostic equipment, people counting systems, intelligent traffic systems, military and defense solutions, and advanced mapping systems.
In a Q&A article, Vladimir Tucakov, former CEO of Point Grey and now manager at FLIR Integrated Imaging Solutions, as well as Andy Teich, President and CEO of FLIR Systems, discuss the acquisition and the plan moving forward.
Tucakov commented on the rationale behind the acquisition from Point Grey’s point of view: "There were a few reasons but primarily to support the next level of Point Grey’s corporate growth and the maturation of the company by having access to world-class experience offered by FLIR. Point Grey and FLIR provide solutions to a wide array of applications and markets making this a great partnership. Another important aspect was to provide our employees personal career growth opportunities within a larger company."
View the full Q&A.
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