FLIR Systems Acquires Salvador Imaging

Thermal imaging and stabilized camera system manufacturer FLIR Systems has acquired the stock of Salvador Imaging, a provider of visible and low-light imaging systems for $13M cash.

The acquisition of Salvador (based in Colorado Springs, CO, USA) will differentiate FLIR's multisensor systems for military customers and expand its security and surveillance product offerings to commercial customers. Salvador's 12- and 14-bit modular camera designs utilize charge-coupled device (CCD) and electron-multiplying charge-coupled device (EMCCD) sensors, at speeds in excess of 100 million frames/s. In addition to operating at high speeds and with low light, the EMCCD cameras provide color and monochrome images.

"The acquisition of Salvador Imaging expands FLIR's capabilities into a market closely related to our core infrared business. Salvador's technology can be integrated into many of our multisensor systems for government applications, and has significant potential for standalone applications," says Earl Lewis, president and CEO of FLIR. "We welcome Salvador's skilled and experienced team to FLIR."

Upon closing, Salvador Imaging has been re-named FLIR Advanced Imaging Systems and will operate as a separate business unit within FLIR's Commercial Vision Systems division. FLIR anticipates this transaction will be neutral to 2009 net earnings and accretive thereafter.

SOURCE: Teledyne FLIR