Flir to buy Point Grey Research for $253M
October 27, 2016 by Manufacturing AUTOMATION
Oct. 27, 2016 – Flir Systems has reached a definitive asset purchase agreement to acquire the business of Point Grey Research, a developer of machine vision cameras for use in industrial and other advanced imaging applications, for approximately $253 million.
Founded in 1997 and based in Richmond, B.C., Point Grey designs, manufactures and distributes its cameras and related software to customers that build systems for “improving the efficiency, quality, analysis, and safety of a wide range of processes and products,” it describes.
The business will become Flir’s Integrated Imaging Solutions line of business operating within the OEM and Emerging segment, said the parties. According to Flir, the addition of the Point Grey business will augment its existing OEM cores and components business by adding a “broad range” of visible spectrum machine vision cameras and solutions.
“We’re excited to add the broad range of innovative products from Point Grey to Flir as together we have a unique capability to create advanced sensing solutions for the broad machine vision market,” said Andy Teich, Flir president and CEO. “Point Grey’s global presence and credibility in industrial vision systems provides a strong platform for us to integrate our leading thermal technology.”
The transaction is expected to be completed in the fourth quarter of 2016.
— With files from FLIR Systems