FLIR Systems Foots $385M for Endeavor Robotics
Along with the recent acquisitions of Aeryon Labs and Prox Dynamics, FLIR has significantly expanded its unmanned systems capabilities.
PORTLAND, Ore. — FLIR Systems (Nasdaq: FLIR) has entered into an agreement to acquire Endeavor Robotics, a leading developer of tactical unmanned ground vehicles (UGVs), from Arlington Capital Partners for $385 million in cash.
Arlington Capital Partners, based in Bethesda, Md., acquired the defense robot-maker from iRobot for $45 million in 2016.
Following completion of the transaction, Endeavor will become part of the FLIR Government and Defense Business Unit’s Unmanned Systems and Integrated Solutions division. The company will remain based in Chelmsford, Mass., where it added 10,000 square feet of space for its 150 employees. The leadership team, including CEO Sean Bielat, will continue to be part of Endeavor.
Endeavor’s ground robots are said to utilize advanced sensing and actuation in providing explosive ordnance disposal, reconnaissance, inspection, and hazardous materials support for troops, police and industrial users at stand-off range.
“This acquisition aligns with our evolution from sensors to intelligent sensing and ultimately solutions that save lives and livelihoods,” says Jim Cannon, president and CEO of FLIR Systems. “Endeavor’s momentum with the U.S. DoD and other global defense and police forces provides us significant opportunity to participate in long-term franchise programs and will help us create growth for the company.”
Endeavor has the largest deployed fleet of tactical robotics systems in the world and has more than 30 years of proven experience in advanced ruggedized UGVs, the company states.
“Joining forces with FLIR Systems will allow Endeavor to take its life-saving technology to the next level, so we can better serve the warfighter, the police officer, and the first responder who use our robots on the frontlines every day,” says Sean Bielat, CEO of Endeavor.
The deal is expected to close in the first quarter of 2019.
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