FLIR Systems to acquire Point Grey Research
Acquisition expands FLIR's presence in machine vision, intelligent imaging for retail analytics, and visible spectrum camera solutions.
FLIR Systems Inc. has reached a definitive asset purchase agreement to acquire the business of Point Grey Research Inc., Richmond BC, a leading developer of machine vision cameras for use in industrial, retail, scientific, traffic, mapping, and other advanced imaging applications, for approximately $253-million in cash.
Founded in 1997, Point Grey is a global leader in the development of advanced visible imaging cameras and solutions that are used in industrial automation systems, medical diagnostic equipment, people counting systems, intelligent traffic systems, military and defense products, and advanced mapping systems.
Point Grey designs, manufactures, and distributes its cameras and related software to a global base of customers that build systems for improving the efficiency, quality, analysis, and safety of a wide range of processes and products.
Deal will augment FLIR’s existing OEM cores and components biz
The addition of the Point Grey business will augment FLIR’s existing OEM cores and components business by adding a broad range of visible spectrum machine vision cameras and solutions. Additionally, FLIR’s thermal sensor technology, with its unique ability to remotely measure temperature, see through factory obscurants such as smoke and steam, and accurately detect and characterize human activity in retail settings, will further extend Point Grey’s product range into new application spaces. The business will become FLIR’s Integrated Imaging Solutions line of business operating within the OEM and Emerging segment.
“We’re excited to add the broad range of innovative products from Point Grey to FLIR as together we have a unique capability to create advanced sensing solutions for the broad machine vision market,” says Andy Teich, president and CEO of FLIR. “Thermal imaging technology provides vision systems customers an alternative imaging spectrum that offers a rich, largely untapped layer of information that can be further leveraged.
Point Grey is a proven, high-performing business
Point Grey’s global presence and credibility in industrial vision systems provides a strong platform for us to integrate our leading thermal technology. Point Grey is a proven, high-performing business with an impressive set of products, customers, processes, and people, all of which we see as being highly synergistic and strategically significant to FLIR. We welcome the Point Grey employees to FLIR and look forward to creating highly valuable solutions for a wide array of intelligent imaging applications.”