FLIR acquires security and surveillance company DVTEL
FLIR Systems, Inc. has announced that it has acquired DVTEL, Inc., a company specializing in software and hardware technologies for advanced video surveillance, for approximately $92 million in cash.
Based in Ridgefield, NJ, USA, DVTEL develops and distributes integrated video management system (VMS) software, advanced video analytics software, visible and thermal securitycameras, and related servers and encoders. The acquisition will enable FLIR, with its existing portfolio, to be a full-spectrum, end-to-end security system provider, serving the consumer, small and medium business, enterprise, and infrastructure-level markets.
"FLIR's strong position in thermal imaging together with DVTEL's extensive video analytics and VMS capability will position us well to offer differentiated and highly accurate perimeter security solutions for the upper corner of our Security segment's product value ladder," said Andy Teich, President and CEO of FLIR. "DVTEL adds a suite of professional-grade security software and hardware that is very complementary to our current solutions and fits very well with our strategy to offer end-to-end solutions in the enterprise and infrastructure segments of the security market."
FLIR anticipates this transaction will be neutral to 2015 net earnings and accretive thereafter.
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