FLIR Systems is now Teledyne FLIR after successful merger

As you may know, Teledyne completed the acquisition of FLIR Systems on May 14, 2021. The company is now included in Teledyne's Digital Imaging segment and operates under the new name Teledyne FLIR.

FLIR Systems is now Teledyne FLIR after successful merger

Teledyne Technologies Incorporated (NYSE:TDY) announced today the successful completion of the acquisition of , Inc. (NASDAQ:FLIR). At each of the respective company's special meeting of stockholders held on May 13, 2021, the stockholders approved and adopted merger proposals related to the Agreement and Plan of Merger dated January 4, 2021. FLIR will now be included in Teledyne's Digital Imaging segment and operate under the name Teledyne FLIR.

Under the terms of the agreement, FLIR stockholders received $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share, which implies a total purchase price of approximately $57.40 per FLIR share based on Teledyne's closing price on May 13, 2021. The aggregate consideration for the transaction was approximately $8.2 billion, including net debt. Previously, Teledyne secured all permanent cash financing for the transaction with a weighted average borrowing cost of less than two percent.

Teledyne expects the acquisition to be immediately accretive to earnings, excluding transaction costs and purchase price accounting, and accretive to GAAP earnings in the first full calendar year following the acquisition.

Simultaneously, Teledyne announced the following executive promotions, effective today. Edwin Roks, current Vice President of Teledyne and President of Teledyne's Digital Imaging Segment, is now Executive Vice President of Teledyne. Edwin will continue to serve as President of Teledyne's Digital Imaging Segment, which now includes Teledyne FLIR. In addition, Todd Booth is promoted to Senior Vice President and Chief Financial Officer for the acquired Teledyne FLIR group of businesses.

“We appreciate the support from our stockholders, and I am delighted to welcome FLIR to the Teledyne family,” said Robert Mehrabian, Executive Chairman of Teledyne. “As a combined company, Teledyne FLIR will uniquely provide a full spectrum of imaging technologies and products spanning X-ray through infrared and from components to complete imaging systems. Teledyne FLIR will also provide a complete range of unmanned systems and imaging payload across all domains ranging from deep sea to deep space. Finally, I want to congratulate Edwin and Todd, whose promotions are very well deserved.”

Teledyne and FLIR filed the vote results for their respective special meetings of stockholders on a Form 8-K with the U.S. Securities and Exchange Commission on May 13, 2021.

The Company Is Now Included In Teledyne's Digital Imaging Segment And Operates Under The New Name Teledyne Flir.

Flir Systems Is Now Teledyne Flir After Successful Merger 1

Get your Part 107 Certificate

Pass the test and take to the skies with the Pilot Institute. We have helped thousands of people become airplane and commercial drone pilots. Our courses are designed by industry experts to help you pass FAA tests and achieve your dreams.

Pilot Institute Dronexl

Stay in touch!

If you'd like to stay up to date with all the latest drone , scoops, rumors, and reviews follow us on Twitter, Facebook, YouTube, Instagram, or…

Subscribe to our Daily Drone News email.*




Submit tips If you have information or tips that you would like to share with us, feel free to submit them hereSupport DroneXL.co: You can support DroneXL.co by using these links when you make your next drone purchase: Adorama, Amazon, B&H, BestBuy, eBay, DJI, Parrot, and Yuneec. We make a small commission when you do so at no additional expense to you. Thank you for helping DroneXL grow! FTC: DroneXL.co uses affiliate links that generate income.

* We do not sell, share, rent out or spam your email, ever. Our email goes out on weekdays around 5:30 p.m.

Follow DroneXL.co on your Google News feed.

Get your Part 107 Certificate

Pass the test and take to the skies with the Pilot Institute. We have helped thousands of people become airplane and commercial drone pilots. Our courses are designed by industry experts to help you pass FAA tests and achieve your dreams.

pilot institute dronexl

FTC: DroneXL.co uses affiliate links that generate income.* We do not sell, share, rent out, or spam your email, ever. Our email goes out on weekdays around 5:30 p.m.

Haye Kesteloo
Haye Kesteloo

Haye Kesteloo is the Editor in Chief and Founder of DroneXL.co, where he covers all drone-related news, DJI rumors and writes drone reviews, and EVXL.co, for all news related to electric vehicles. He is also a co-host of the PiXL Drone Show on YouTube and other podcast platforms. Haye can be reached at haye @ dronexl.co or @hayekesteloo.

Articles: 2486

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Share via
Copy link
Powered by Social Snap
%d bloggers like this: