Contact Information: Company contact: Tony Trunzo FLIR Systems, Inc. (503) 498-3547 www.flir.com
FLIR Systems Announces Acquisition of Ifara Tecnologias
| Source: FLIR Systems, Inc.
PORTLAND, OR--(Marketwire - April 8, 2008) - FLIR Systems, Inc. (NASDAQ : FLIR ) announced
today that it has acquired the stock of Ifara Tecnologias, S.L., a leading
provider of middleware and client application software used to create
sensor networks, for EUR 7.0 million cash.
Based in Madrid, Spain, Ifara develops software technology, hardware, and
developer tools used for the creation and maintenance of sensor networks
for applications such as security and surveillance, force protection,
reconnaissance, and maritime. Ifara's middleware sensor platform, known as
Nexus, is a turnkey solution based on an open, modular and flexible
architecture. Nexus offers connectivity and integrated control of a
variety of different sensors, including thermal and CCTV cameras, fence and
ground sensors, alarm contacts, UAVs and radars. With Ifara's technology,
FLIR will be able to provide its customers with the capability to easily
and seamlessly integrate a wide variety of sensors as required for any
given project.
FLIR anticipates that Nexus will ultimately become a standard feature in
many products within FLIR's Commercial Vision Systems and Government
Systems divisions. In addition, Nexus features such as geo-referencing and
video analytics will be sold separately to integrators and other customers.
Ifara will operate as a separate business unit within FLIR's Commercial
Vision Systems division.
"We are pleased to announce this transaction," commented Earl Lewis,
Chairman, President and CEO of FLIR. "Ifara has been an outstanding
partner to FLIR over the past several years and we believe bringing them
in-house will accelerate the adoption of Ifara's complementary technology
and help drive growth in key FLIR market segments. We welcome Ifara's
skilled and experienced team to FLIR."
Forward-Looking Statements
The statements in this press release by Earl Lewis and the statements
regarding the addition of Ifara's products, features, and technologies 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 Ifara'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 Ifara, the potential inability to realize expected benefits
and synergies, changes in demand for the Company'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.