Thermal imaging camera distributor FLIR Systems has reached an agreement to acquire Point Grey Research Inc., a developer of machine vision cameras for retail, for $253 million in cash. Through the deal, Point Grey business will augment FLIR’s existing OEM Cores and Components business by adding a broad range of visible spectrum machine vision cameras and solutions.
The acquisition will also allow FLIR Systems to extend Point Grey’s product range into new application spaces. The business will become the company’s Integrated Imaging Solutions sector, which will operate within the OEM and Emerging segment.
Founded in 1997, Point Grey develops advanced visible imaging cameras and solutions used in a variety of industries. The company, which is based in Richmond, B.C., Canada, designs, manufactures and distributes to a global customer base.
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“We’re excited to add the broad range of innovative products from Point Grey to FLIR, as together we have a unique capability to create advanced sensing solutions for the broad machine vision market,” said Andy Teich, President and CEO of FLIR in a statement. “Point Grey’s global presence and credibility in industrial vision systems provides a strong platform for us to integrate our leading thermal technology.”
The deal is expected to close in Q4 of 2016.
