FLIR completes acquisition of ICx TechnologiesWritten by Mike Edwards Wednesday, 27 October 2010 08:24
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.
“The acquisition of ICx represents an opportunity to expand our business into several attractive adjacent technologies, products, and markets. We believe ICx is a leader in emerging CBRNE sensor technologies and that this business will create substantial value for our shareholders,” said Earl Lewis, president and CEO of FLIR. “We are excited to add ICx to the global infrastructure of FLIR’s Government Systems Division and we are delighted to welcome ICx employees to FLIR.”
On August 16, 2010, FLIR announced it had entered into a definitive agreement to acquire ICx through a tender offer and subject to certain conditions. The acquisition was completed via a tender offer by a FLIR subsidiary for all of the outstanding shares of ICx followed by the merger of that purchasing subsidiary with ICx, as a result of which ICx became a wholly-owned subsidiary of FLIR.
The tender offer expired at 12:00 midnight, New York City time, on Friday, October 1, 2010, with 32,683,590 million shares, representing approximately 93.4% of ICx’s outstanding shares, validly tendered and not validly withdrawn in the offer. FLIR accepted for payment all validly tendered shares and thereafter completed the acquisition.
ICx is a provider of integrated advanced sensing technologies for homeland security, force protection and critical infrastructure applications. ICx has established a technology leadership position across a wide spectrum of CBRNE (chemical, biological, radiological, nuclear and explosives) detection and surveillance technologies, supported by a robust intellectual property portfolio.
Editorial Director: Ryerson Polytechnical Institute electronic engineering technologist with over a decade of manufacturing experience and 20-plus years in technical publishing, is also trained in hydraulics, electro-pneumatics, bearings, mechanical CAD software, sensors, motor drives and electric motors.Website: www.dpncanada.com
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