FLIR Systems (FLIR) Acquires Video Image Processor Traficon for $46M
Tweet Send to a FriendGet Alerts FLIR Hot Sheet
Price: $24.84 +0.44%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 1.5%
EPS Growth %: +12.9%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 1.5%
EPS Growth %: +12.9%
Trade FLIR Now!
FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has acquired the stock of Traficon International NV, a leader in video detection technologies for traffic applications, for approximately $46 million in cash.
Traficon, based in Wevelgem, Belgium, is a global leader in video image processing software and hardware for traffic analysis. Traficon produces intelligent technology that makes traffic safer and more efficient through solutions for automatic incident detection, traffic data collection, and intersection vehicle and pedestrian presence detection. Traficon has more than 25 years of proven field experience and more than 80,000 video-based transportation control and monitoring systems operational worldwide.
"We have shown that thermal imaging is a superior solution for monitoring traffic," said Earl Lewis, President and CEO of FLIR. "This acquisition will accelerate the adoption of FLIR technology in the expanding worldwide market for video-based traffic control solutions as we utilize Traficon's strong distribution network. Additionally, Traficon's video analytics capabilities will be integrated into our other imaging lines of business offering enhanced functionality and the development of new applications."
FLIR anticipates this transaction will be neutral to 2013 net earnings and accretive thereafter.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Traficon, based in Wevelgem, Belgium, is a global leader in video image processing software and hardware for traffic analysis. Traficon produces intelligent technology that makes traffic safer and more efficient through solutions for automatic incident detection, traffic data collection, and intersection vehicle and pedestrian presence detection. Traficon has more than 25 years of proven field experience and more than 80,000 video-based transportation control and monitoring systems operational worldwide.
"We have shown that thermal imaging is a superior solution for monitoring traffic," said Earl Lewis, President and CEO of FLIR. "This acquisition will accelerate the adoption of FLIR technology in the expanding worldwide market for video-based traffic control solutions as we utilize Traficon's strong distribution network. Additionally, Traficon's video analytics capabilities will be integrated into our other imaging lines of business offering enhanced functionality and the development of new applications."
FLIR anticipates this transaction will be neutral to 2013 net earnings and accretive thereafter.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Applied Materials, Inc. (AMAT) Tops Q2 EPS by 3c, Offers Guidance
- Accretion to Actavis (ACT) from Warner Chilcott (WCRX) Deal Could Be Substantial - Jefferies
- J.C. Penney Co., Inc. (JCP) Posts Q1 Loss of $1.31/Share; Comps Down 16.6%
Create E-mail Alert Related Categories
Mergers and AcquisitionsRelated Entities
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
