FLIR Systems Acquires DVTel for $92M
The acquisition adds a suite of professional-grade security software and hardware that is complementary to its current solutions, FLIR announces.
WILSONVILLE, Ore. – FLIR Systems (NASDAQ: FLIR) announced Monday that it has acquired DVTel, a provider of enterprise-class security and video surveillance solutions, for approximately $92 million in cash.
DVTel develops and distributes integrated video management system (VMS) software, advanced video analytics software, visible and thermal security cameras, and related servers and encoders. The addition of DVTel’s portfolio to existing FLIR-branded thermal and visible cameras as well as its Lorex-branded security systems, allows FLIR to be a full-spectrum end-to-end security system provider, serving the consumer, small and medium business, enterprise, and infrastructure-level markets, according to a press release.
“FLIR’s strong position in thermal imaging together with DVTel’s extensive video analytics and VMS capability will position us well to offer differentiated and highly accurate perimeter security solutions for the upper corner of our Security segment’s product value ladder,” says Andy Teich, president and CEO of FLIR. “DVTel adds a suite of professional-grade security software and hardware that is very complementary to our current solutions and fits very well with our strategy to offer end-to-end solutions in the enterprise and infrastructure segments of the security market.”
FLIR said it anticipates the transaction will be neutral to 2015 net earnings and accretive thereafter.
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