FLIR Buys Belgium's Traficon for $46 Million

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On Friday, FLIR Systems (NASDAQ: FLIR  ) announced that it has purchased all outstanding shares of Belgian video image processing firm Traficon Internationa for approximately $46 million, cash.

Traficon is a specialist in using video to analyze traffic patterns, detect accidents, and identify the presence of vehicles and pedestrians in intersections. According to FLIR, more than 80,000 Traficon transportation control and monitoring systems are in operation worldwide. FLIR says it intends to merge its own thermal imaging technologies with Traficon's software to provide better traffic control solutions to Traficon's customer base.

FLIR noted that the transaction will be neutral to 2013 net earnings, and accretive thereafter. FLIR shares dropped 0.4% in response to the news, and are now down at $22.11.

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Related Tickers

10/21/2016 4:00 PM
FLIR $28.97 Down -0.25 -0.86%
FLIR Systems CAPS Rating: ****