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  • Thursday, April 25, 2024

Andy Teich: FLIR Systems Eyes Security Tech Portfolio Growth Through $92M DVTEL Buy


acquisition, mergerFLIR Systems (Nasdaq: FLIR) has bought New Jersey-based video surveillance hardware and software maker DVTEL for about $92 million cash in a push to expand security product offerings.

Andy Teich, FLIR president and CEO, said in a statement released Monday the acquisition complements FLIR’s strategy to deliver end-to-end technology platforms in the enterprise and infrastructure security market.

FLIR said it expects the transaction to be earnings neutral in 2015 and accretive thereafter.

Wilsonville, Oregon-based FLIR aims to combine its thermal imaging and camera systems with a portfolio of DVTEL-built video analytics, management, server and encoding systems.

Shares in FLIR closed up 29 cents to $30.56 Monday and remained unchanged Tuesday.

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