FLIR Systems to acquire Scientific Materials Corporation

NOVEMBER 23--FLIR Systems (Portland, OR; www.flir.com) has entered into a definitive agreement to acquire the stock of Scientific Materials Corporation (SMC), a supplier of laser assemblies, laser components, and materials, for $13 million cash. The transaction is expected to close within the next 30 days. Based in Bozeman, MT, Scientific Materials was founded in 1989 as a producer of specialty crystals for use in high-end laser manufacturing. The company has since expanded into the production of military-grade laser assemblies and high-quality laser components used by a variety of industrial, medical, scientific, and military laser manufacturers.

"SMC has developed a reputation for making some of the highest-quality laser components on the market, and we are delighted that they have chosen to become a part of FLIR. We are seeing increasing demand for laser payloads in many of our systems, and the acquisition of SMC will give us greater control over the development, manufacturing, and cost of this important subassembly," commented Earl R. Lewis, president and CEO of FLIR Systems Inc.