Teledyne Acquires FLIR for More Than $8 Billion
Author:
May 19, 2021
Teledyne Technologies announced that it acquired FLIR Systems in a stock and cash transaction totaling approximately $8.2 billion, including net debt.
The deal was approved and adopted at stockholder meetings held by each company. FLIR will be part of Teledyne’s Digital Imaging segment under the name Teledyne FLIR.
“As a combined company, Teledyne FLIR will uniquely provide a full spectrum of imaging technologies and products spanning X-ray through infrared and from components to complete imaging systems,” Teledyne executive chairman Robert Mehrabian
said in a statement. “Teledyne FLIR will also provide a complete range of unmanned systems and imaging payload across all domains ranging from deep sea to deep space.”
Teledyne Acquires FLIR marinelink.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marinelink.com Daily Mail and Mail on Sunday newspapers.
Teledyne Completes Acquisition of Flir
Teledyne Technologies Inc. has completed its acquisition of
Flir Systems Inc., a commercial company specializing in the design and production of thermal imaging cameras, components and imaging sensors. Flir will now be included in Teledyne’s digital imaging segment and operate under the name Teledyne Flir.
Under the terms of the agreement, Flir stockholders received $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share. The aggregate consideration for the transaction was approximately $8.2 billion, including net debt. Previously, Teledyne secured all permanent cash financing for the transaction with a weighted average borrowing cost of less than two percent.