Industrial sensor giant Teledyne will acquire approximately $ 8 billion worth of sensor company FLIR in a mix of stocks and cash. The approvals are still pending and are expected to be completed by the middle of this year. While both companies make sensors primarily aimed at industrial and commercial customers, they are actually focusing on various areas of expertise that, according to Teledyne in a press release, result in FLIR's business complementing, not competing with, existing offerings.
FLIR's technology was introduced to the consumer market through additional thermal imaging cameras for mobile devices, including the iPhone. These are useful, for example, to identify the source of drafts and potential leaks. The company's core business, which includes not only thermal imagery but also visible light imagery, video analysts, and threat detection technologies, serves tight-budget customers including the aerospace and defense industries.
Teledyne also serves aerospace and defense customers, including NASA, as well as health, maritime and climate surveillance agencies. The company's offering includes seismic sensors, oscilloscopes and other instruments, as well as digital imaging. However, FLIR's products cover and elaborate on a number of areas that are not currently addressed by Teledyne.