FLIR Systems acquires Aeryon Labs in £151m deal

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FLIR Systems has acquired Aeryon Labs in a deal worth over £151m ($200m).

The developer of high-performance unmanned aerial systems (UAS) for the global military, public safety, and critical infrastructure markets will become part of FLIR’s Government and Defense Business Unit’s Unmanned Systems and Integrated Solutions division.

Aeryon’s vertical takeoff and landing quad-copter airframes integrate multiple sensors, including FLIR thermal technology, to provide users with immediate high-resolution intelligence, surveillance, and reconnaissance (ISR) capability.

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It also develops UAS solutions including hardware, embedded software, ground control stations, sensors, software for flight operations, as well as supporting services for its global customers.

Jim Cannon, president and CEO of FLIR Systems, said: “The acquisition of Aeryon Labs reinforces our long-term strategy to move beyond providing sensors to the development of complete solutions that save lives and livelihoods.”

He added: “This acquisition, coupled with our acquisition of Prox Dynamics in 2016, greatly increases our unmanned systems solutions capabilities, expanding beyond nano-UAS into Group 1 UAS solutions for military. We intend to continue to invest and build this area of our business and broaden our capabilities as we view unmanned and autonomous solutions to be a significant opportunity for organic growth in the coming years.”

The transaction is expected to be $0.02 dilutive to FLIR Systems’ 2019 earnings due to anticipated product development investments, and accretive thereafter.

FLIR Systems’ management confirmed it will discuss this strategic acquisition during its 2018 Q4 earnings call scheduled for February 13.

Dave Kroetsch, co-founder and CTO of Aeryon Labs, commented: “We’re thrilled to join the FLIR family and to have a large, growth-oriented technology company as our new home. As drone technology and its markets evolve, customers are seeking UAS as just one component of a broader solution.

He concluded: “While Aeryon has been evolving in that direction for the past few years, being part of FLIR Systems brings a path to include our hardware and software technologies in much bigger solutions than would have ever been possible on our own.”

Tags : AcquisitionbusinessfinancialFLIR Systems
Alex Douglas

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