Teledyne Technologies acquires FLIR Systems

July 1, 2021
(Updated 7/1/21) The two titans of the vision community will merge in mid-2021.

Update 7/1/2021: FLIR is now included in Teledyne's Digital Imaging segment and operating under the name Teledyne FLIR. 

Teledyne Technologies announced today that it will acquire FLIR Systems, Inc. through a cash and stock transaction worth nearly $8 billion.

Already the owner of a large portfolio of vision companies including Teledyne DALSA, Teledyne Imaging, and Teledyne Lumenera, with the acquisition of FLIR Systems Inc. and its proprietary sensor technologies, Teledyne Technologies now becomes an even larger powerhouse in the vision community. The transaction is expected to close in the middle of 2021. FLIR stockholders will receive $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share.

"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.

"We could not be more excited to join forces with Teledyne through this value-creating transaction. Together, we will offer a uniquely complementary end-to-end portfolio of sensory technologies for all key domains and applications across a well-balanced, global customer base," said Jim Cannon, President and Chief Executive Officer of FLIR.

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