FLIR Systems acquires optics-products manufacturer - Trade Only Today

FLIR Systems acquires optics-products manufacturer

FLIR Systems said it acquired Armasight, a developer of precision sporting, hunting and military optics products, for about $41 million in cash.
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FLIR Systems said it acquired Armasight, a developer of precision sporting, hunting and military optics products, for about $41 million in cash.

FLIR said Armasight, based in San Francisco, develops night vision, thermal and daylight imaging products for hunters, outdoor enthusiasts, law enforcement and military customers.

Armasight develops and distributes rifle scopes, spotting scopes, binoculars, goggles and illuminating tools that improve safety and the enjoyment of the outdoors as well as enable military users to detect, recognize, and identify targets from extreme ranges at any time of day or night, FLIR said.

The acquisition will combine FLIR's existing lines of personal vision systems and thermal weapon sights with Armasight's products, which FLIR said gives it the ability to better serve hunters, wildlife enthusiasts, police and military customers with advanced day and night capabilities.

The combined business line will be named FLIR Outdoor and Tactical Systems and will be reported within FLIR's surveillance segment.

"The addition of Armasight to our existing scopes and sights business provides us with meaningful additional scale and injects additional market expertise to better serve the growing hunting and military scopes markets," FLIR president and CEO Andy Teich said in a statement. "We are pleased to welcome this talented team in further leveraging FLIR's established channels into global military and law enforcement customers, as well as utilize our advanced thermal sensor development and vertically integrated production capabilities to advance their products and reduce costs."

Raymarine, a unit of FLIR, is a maker of recreational marine electronics that include marine radar, multifunction displays, fishfinders and autopilots.

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