28 Dec 12. FLIR Systems, Inc. (NASDAQ : FLIR ) has acquired the stock of Traficon International NV, a leader in video detection technologies for traffic applications, for approximately $46m 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.
02 Jan 13. ReconRobotics announced that its international headquarters in Lugano, Switzerland, has closed the year with strong sales of micro-robot systems to military and police users in Norway, the Netherlands, Switzerland, Austria, Germany, Hungary and France, in addition to an unspecified country in the Middle East.
“Our robot sales were up more than 50% in 2012, and it is our international team that has led the way in the last quarter,” said Alan Bignall, President and CEO of ReconRobotics. “Military and counterterror teams around the world are recognizing that the unique reconnaissance capabilities of our Throwbot XT give them a big tactical advantage during high-risk operations, and this is driving sales at a fast clip. We expect this trend to continue in 2013.”
Nearly 4,000 of the company’s Recon Scout® and Throwbot® systems have been deployed by the U.S. military and international friendly forces, and by hundreds of law enforcement agencies, worldwide. Operators use these throwable micro-robot systems to determine the layout of enclosed spaces, identify potential IEDs and fix the location of civilians or enemy personnel. The Throwbot XT weighs 1.2lbs (544g), and can be deployed in five seconds and thrown up to 120 feet (36m). (Source: Yahoo!/BUSINESS WIRE)
20 Dec 12. FLIR Systems, Inc. (NASDAQ: FLIR) has successfully completed its previously announced acquisition of Lorex Technology Inc. for $1.32 per share, representing an aggregate purchase price of $60m. On October 25, 2012, FLIR announced it had entered into an agreement to acquire Lorex subject to certain conditions. The transaction was completed by a FLIR subsidiary purchasing all the outstanding shares of Lorex followed by the amalgamation of that purchasing subsidiary with Lorex, resulting in Lorex becoming a wholly-owned subsidiary of FLIR. The acquisition was completed upon receipt of final court approval from the Ontario Superior Court of Justice (Commercial List) of the proposed plan of arrangement. The plan of arrangement was approved by Lorex’s shareholders at the special meeting of shareholders held on December 13, 2012. Lorex, based in Markham, Ontario, is a pioneer in home security video surveillance systems that can be installed by the user as well as a provider of video surveillance products to security system integrators. Lorex provides homes and businesses bundled video surveillance systems and equipment that includes connected visible light video cameras, illuminated infrared cameras, digital video recorders, video monitors, baby monitors, and wearable action sports cameras. The company sells its solutions through retailers such as Cost