On the 14th May 2021, Teledyne Technologies Incorporated (Teledyne) completed its acquisition of FLIR Systems (FLIR) for an estimated $8.2 billion. FLIR will now trade under the name Teledyne FLIR.[1]

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Teledyne

Teledyne is a market leader in the production of sophisticated digital imaging products and software, aerospace and defence electronics, and engineered systems. Their highly reliable and advanced technologies and products are used in specialist industry sectors such as aerospace and defence, factory automation, air and water quality environmental monitoring, electronics design and development, oceanographic research, deep-water oil and gas exploration and production, medical imaging, and pharmaceutical research. Teledyne is an international company with operations located in the UK, Western and Northern Europe, USA, and Canada.

FLIR

Internationally revered, FLIR is a market-leading manufacturer of thermal imaging cameras, technology, test equipment, and software. Throughout the world, they have a reputation for quality, innovation, and a diverse product range. FLIR serves many sectors including government, defence, first response, industry, and science and R&D, as well as trades including electrical, plumbing, and building/construction.

The Acquisition

On the 14th May, Teledyne purchased FLIR for $8.2 billion (approximately £5.7 billion) including net debt. Each FLIR stakeholder received $28 (£19.77) and 0.0718 shares of Teledyne stock per FLIR share, bringing the total purchase price of each FLIR share to $57.40 (£40.52).

FLIR will be rebranded as Teledyne FLIR, the name under which all future trades will be conducted. Teledyne FLIR is set to operate as part of Teledyne’s Digital Imaging Segment.

Additionally, as part of the Teledyne-FLIR merger, Edwin Roks, formerly Vice President of Teledyne and current President of Teledyne's Digital Imaging Segment, was promoted to Executive Vice President of Teledyne. Todd Booth was also promoted to Senior Vice President and Chief Financial Officer of Teledyne FLIR.

Teledyne FLIR

Looking to the future, Teledyne FLIR is focused on accelerating “innovation in areas where FLIR is already a market leader, while also expanding quickly into new technologies”.[2] Teledyne FLIR says their “top priority is creating innovative sensing solutions that help customers do their jobs and support their growth”[3] and emphasises that their commitment to continuous innovation and operational excellence puts them in a better position to meet customers’ evolving needs.

Further Information

For more information regarding the Teledyne-FLIR merger, please contact our Sales team on 01642 931 329 or via our online form.

Alternatively, please read Teledyne FLIR’s press release.

[1] All the information in this article was gathered using the following sources:

[2] Teledyne FLIR, Post Close Customer Letter  

[3] Teledyne FLIR, Post Close Customer Letter