In an effort to expand the company’s presence in machine vision, intelligent imaging for retail analytics, and visible cameras, FLIR Systems has officially 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.
Founded in 1997 and based in Richmond, BC, Canada; Point Grey is a global manufacturer of 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.
At VISION 2016 in Stuttgart, Point Grey launched a new family of 10 GigE cameras and a new 20 MPixel camera. The new 10 GigE cameras will feature the latest global shutter CMOS sensors, including the first model, which will be equipped with the 12.3 MPixel Sony Pregius IMX253, which supports 4K60 Ultra HD video. The 20 MPixel Blackfly S camera, meanwhile, will feature the Sony Exmor R IMX183 CMOS sensor, making it Point Grey’s highest resolution camera to date.
"The acquisition of Point Grey provides us a strong, proven, and profitable platform from which to integrate thermal technology into the underpenetrated industrial vision and people counting markets," said Andy Teich, President and CEO of FLIR. "We are pleased to have the Point Grey team join FLIR and we look forward to working with them to innovate advanced intelligent imaging solutions for the customers in the machine vision space."
The business will be known as the Integrated Imaging Solutions line of business operating within FLIR’s OEM and Emerging segment.
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