FLIR Finalizes Endeavor Robotics Purchase; James Cannon Quoted

James Cannon

FLIR Systems (Nasdaq: FLIR) completed its acquisition of Endeavor Robotics from Arlington Capital Partners in a $382 million cash deal.

Endeavor, formerly iRobot Defense and Security, will now operate as part of the unmanned systems and integrated solutions division of FLIR’s government and defense business unit, FLIR said Monday.

James Cannon, president and CEO of FLIR, said the transaction enhances the company’s efforts to deliver unmanned ground and aerial systems to meet the requirements of warfighters, critical infrastructure and public safety professionals.

FLIR initially announced the transaction in February and expects the deal to be $0.03 dilutive to its adjusted earnings per share in 2019.

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