Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

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.

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles