Teledyne to Acquire FLIR for $8B

Teledyne and FLIR jointly announce that they have entered into a definitive agreement under which Teledyne will acquire FLIR in a cash and stock transaction valued at approximately $8.0 billion.

“At the core of both our companies is proprietary sensor technologies.  Our business models are also similar: we each provide sensors, cameras and sensor systems to our customers.  However, our technologies and products are uniquely complementary with minimal overlap, having imaging sensors based on different semiconductor technologies for different wavelengths,” said Robert Mehrabian, Executive Chairman of Teledyne.  “For two decades, Teledyne has demonstrated its ability to compound earnings and cash flow consistently and predictably.  Together with FLIR and an optimized capital structure, I am confident we shall continue delivering superior returns to our stockholders.”