FLIR Systems buys Armasight, a military optics supplier
NewsJune 29, 2016
WILSONVILLE, Oregon. FLIR Systems, Inc. officials announced that the company acquired Armasight, Inc., a leading developer of precision military, hunting, and sporting optics products, for about $41 million in cash. Armasight, based in San Francisco, produces night vision, thermal, and daylight imaging products for military customers as well as hunters, outdoor enthusiasts, and law enforcement users.
Armasight's product line includes rifle scopes, spotting scopes, binoculars, goggles, and illuminating tools that enable military users to detect, recognize, and identify targets from extreme ranges at any time of day or night. The acquisition will marry FLIR's existing lines of Personal Vision Systems and Thermal Weapon Sights with Armasight's products. The combined business line will be named FLIR Outdoor and Tactical Systems and will be reported within FLIR's Surveillance segment.
"The addition of Armasight to our existing scopes and sights business provides us with meaningful additional scale and injects additional market expertise to better serve the growing hunting and military scopes markets," says Andy Teich, President and CEO of FLIR.
FLIR officials say they anticipate the transaction will be neutral to 2016 net earnings and accretive thereafter.
