SOURCE: FLIR Systems, Inc.

FLIR Systems, Inc.

December 28, 2009 16:05 ET

FLIR Systems Announces Acquisition of Directed Perception, Inc.

PORTLAND, OR--(Marketwire - December 28, 2009) - FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has acquired the stock of Directed Perception, Inc., a leading provider of pan-tilt motion control systems for commercial and military markets, for $20 million cash.

Directed Perception, based in Burlingame, California, has earned a world-wide reputation as a pioneer and leader in high-performance pan-tilts in security and surveillance, maritime, military, robotics, and scientific instruments markets. Directed Perception's full-line of pan-tilt systems support payloads ranging from 6 to 90 pounds. The acquisition of Directed Perception will enhance and differentiate FLIR's pan-tilt-zoom camera systems for both commercial and military markets through lower cost, improved functionality and ease-of-use.

"The acquisition of Directed Perception expands FLIR's capabilities into a key enabling technology. Its technology can be integrated into many of our existing pan-tilt-zoom systems and has significant potential for future low-cost integrated solutions," commented Earl Lewis, President and CEO of FLIR. "We welcome Directed Perception's skilled and experienced team to FLIR."

Upon closing, Directed Perception has been re-named FLIR Motion Control Systems and will operate as a part of FLIR's Commercial Systems division. FLIR anticipates this transaction will be neutral to 2010 net earnings and accretive thereafter.

Forward-Looking Statements

The statements in this press release by Earl Lewis and the statements regarding the benefits of the Directed Perception acquisition are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's and Directed Perception's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: the possibility that the Company will experience difficulties in the integration of the operations, employees, strategies, technologies and products of Directed Perception, the potential inability to realize expected benefits and synergies, changes in demand for the Company's and Directed Perception's products, the impact of competitive products and pricing, and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release or for changes made to this document by wire services or Internet service providers.

About FLIR Systems

FLIR Systems, Inc. is a world leader in the design, manufacture and marketing of thermal imaging and stabilized camera systems for a wide variety of thermography and imaging applications including condition monitoring, research and development, manufacturing process control, airborne observation and broadcast, search and rescue, drug interdiction, surveillance and reconnaissance, navigation safety, border and maritime patrol, environmental monitoring and ground-based security. Visit the Company's web site at www.FLIR.com.

Contact Information

  • Company contact:
    Tony Trunzo
    FLIR Systems, Inc.
    (503) 498-3547
    www.flir.com