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Written by / Agency / Source: FLIR Systems, Inc.

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FLIR Systems Announces Acquisition of Traficon International for $46 Million - FLIR Systems, Inc. announced that it has acquired the stock of Traficon International NV, a leader in video detection technologies for traffic applications, for approximately $46 million in cash - FLIR.com
FLIR Systems Announces Acquisition of Traficon International for $46 Million

 

NewswireToday - /newswire/ - Portland, OR, United States, 2012/12/28 - FLIR Systems, Inc. announced that it has acquired the stock of Traficon International NV, a leader in video detection technologies for traffic applications, for approximately $46 million in cash - FLIR.com. NASDAQ: FLIR

   
 
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Traficon, based in Wevelgem, Belgium, is a global leader in video image processing software and hardware for traffic analysis. Traficon produces intelligent technology that makes traffic safer and more efficient through solutions for automatic incident detection, traffic data collection, and intersection vehicle and pedestrian presence detection. Traficon has more than 25 years of proven field experience and more than 80,000 video-based transportation control and monitoring systems operational worldwide.

“We have shown that thermal imaging is a superior solution for monitoring traffic,” said Earl Lewis, President and CEO of FLIR. “This acquisition will accelerate the adoption of FLIR technology in the expanding worldwide market for video-based traffic control solutions as we utilize Traficon’s strong distribution network. Additionally, Traficon’s video analytics capabilities will be integrated into our other imaging lines of business offering enhanced functionality and the development of new applications.”

FLIR anticipates this transaction will be neutral to 2013 net earnings and accretive thereafter.

About FLIR Systems
FLIR Systems, Inc. (FLIR.com) is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. The Company’s advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications, including airborne and ground-based surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, environmental monitoring, and chemical, biological, radiological, nuclear, and explosives (CBRNE) detection.

The statements in this release by Earl R. Lewis, and the other statements in this release about the award described above, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: the ability to manufacture and deliver the systems referenced in this release, changes in demand for the Company's products, product mix, the timing of deliveries under the award discussed above, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, the ability of the Company to manufacture and ship products in the time period required, actual purchases under agreements, the Company's continuing compliance with U.S. export control laws and regulations, the timely receipt of export licenses for international shipments, the continuing eligibility of the Company to act as a federal contractor, and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release, or for changes made to this document by wire services or Internet service providers.

All trademarks, registered trademarks and service marks are the property of their respective owners.

 
 
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Written by / Agency / Source: FLIR Systems, Inc.

 
 

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FLIR Systems Announces Acquisition of Traficon International for $46 Million

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Publisher Contact: Angel Bennett - FLIR.com 
angel.bennett[.]flir.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any FLIR Systems, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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