Teledyne FLIR

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Teledyne FLIR LLC
TypeSubsidiary
IndustryImaging technology, defense, security, law enforcement, thermography
Founded1978; 44 years ago (1978)
HeadquartersWilsonville, Oregon, U.S.
45°19′14″N 122°45′53″W / 45.32065°N 122.7647°W / 45.32065; -122.7647Coordinates: 45°19′14″N 122°45′53″W / 45.32065°N 122.7647°W / 45.32065; -122.7647
Arlington, Virginia
Key people
Edwin Roks, EVP & CEO
Todd Booth, CFO
Robert Mehrabian, Chairman
ProductsThermal imaging, infrared
RevenueIncrease $1.923 billion (2020)
Increase $212 million (2020)
Total assetsIncrease $3.252 billion (2020)
Total equityIncrease $1.883 billion (2020)
Number of employees
4,179 (2020)
ParentTeledyne Technologies
Websitewww.flir.com Edit this at Wikidata
Footnotes / references
[1]
Entrance to company headquarters in Wilsonville, Oregon, which is adjacent to the Mentor Graphics campus.

Teledyne FLIR LLC (an acronym for "forward-looking infrared"),[2] a subsidiary of Teledyne Technologies, specializes in the design and production of thermal imaging cameras and sensors. Its main customers are governments and in 2020, approximately 31% of its revenues were from the federal government of the United States and its agencies.[1]

Operations[edit]

FLIR produces devices for the following markets:[1]

  • Surveillance and reconnaissance
  • Force protection
  • Border and maritime patrol
  • Critical infrastructure protection
  • Search and rescue
  • Detection
  • Targeting
  • Airborne law enforcement
  • Drug interdiction

Facilities[edit]

The company has offices, manufacturing, and/or research and development facilities in Nashua, New Hampshire; Goleta, California; North Billerica, Massachusetts; Orlando, Florida; Bozeman, Montana; Stillwater, Oklahoma; Arlington County, Virginia; Chelmsford, Massachusetts; Ventura, California; Elkridge, Maryland; Freeport, Pennsylvania; Oak Ridge, Tennessee; Waterloo, Ontario; West Lafayette, Indiana; Tallinn; Täby; Dubai; Hvalstad; and Fareham.[1]

Products[edit]

FLIR One[edit]

The FLIR ONE camera is limited to 9 frames per second due to United States regulatory concerns.[3] The camera can be used to detect water and air leaks.[4] It is available as an add-on for Android and iOS devices.

AN/PVS-22[edit]

The AN/PVS-22, designated as the Universal Night Sight (UNS) is a clip-on night vision sight built off FLIR's MilSight 105 scope. The UNS can be used to engage long-range targets and can handle recoil up to .50BMG.[5] The AN/PVS-22 was originally co-designed by Knight's Armament Company and OSTI Inc. for SOCOM.[6] Ownership of the tradename "Universal Night Sight" was fought over by KAC and OSTI.[7][8][9][10][11] It is uncertain how FLIR came to own the rights for the AN/PVS-22 and MilSight 105 design.

History[edit]

The company was founded in 1978 to pioneer the development of high-performance, low-cost infrared (thermal) imaging systems for airborne uses.[12]

Originally based in Tigard, Oregon, the company relocated to Portland, Oregon, in the mid-1990s.

In 1990, the company acquired the industrial infrared imaging group of Hughes Aircraft Company.[12]

In June 1993, the company became a public company via an initial public offering, raising $12 million.[13][14]

In January 1998, the company acquired Agema Infrared System of Sweden for approximately $80 million.[15][16]

In January 1999, J. Kenneth Stringer III was named President & CEO of the company.[17]

In April 1999, the company acquired Inframetrics.[18][19]

In May 2000, Stringer was fired by the board of directors due to errors in the company's accounting practices,[20] Earl Lewis replaced Stringer as President & CEO of the company,[21] and PricewaterhouseCoopers was dismissed as auditor.[22] In January 2001, Flir agreed to pay $6 million to settle class-action shareholder litigation and FLIR settled with the U.S. Securities and Exchange Commission in October 2002. Three executives were charged with fraudulent accounting.[22]

In 2004, the company acquired a building in Wilsonville, Oregon, from Mentor Graphics for $10.3 million for use as a new headquarters.[23]

In January 2004, FLIR acquired Indigo Systems, a developer and supplier of infrared imaging products, including cooled and uncooled infrared detectors, camera cores, and finished cameras, for $190 million.[24] In 2011, after losing a trade secrets claim against the founders of Indigo Systems, FLIR agreed to pay $39 million to settle a countersuit.[25]

Beginning in 2005, the company began supplying BMW with imaging technology for use on its vehicles.[26]

In March 2007, the company reported that it would restate its financial statements for the period from 1995 to 2005 due to options backdating.[27] FLIR had been sued by investors for options backdating but the lawsuits were thrown out in November 2007.[28]

In October 2007, the company acquired Extech Instruments for $40 million.[29][30]

In April 2008, the company acquired Ifara Tecnologias of Spain for €7.0 million.[31][32]

In December 2009, it sold Extech Data Systems, a division of Extech which made portable printers.[29][33]

Also in December 2009, the company acquired security hardware maker Directed Perception for $20 million.[34]

In May 2010, the company acquired bankrupt Raymarine for $180 million.[35][36]

In December 2012, the company acquired Lorex Technology for $60 million.[37] Lorex was sold to Dahua Technology in 2018 for $29 million.[38]

In May 2013, Andrew C. Teich was appointed President & CEO after the retirement of Earl Lewis.[39][21]

In April 2015, the company paid $9.5 million to settle allegations of violations of the Foreign Corrupt Practices Act after it paid for a world tour for Saudi Arabian officials. According to the U.S. Securities and Exchange Commission, Flir earned more than $7 million in profits from sales influenced by the FCPA violations.[40]

In November 2015, the company acquired DVTEL, a provider of software and hardware technologies for advanced video surveillance, for approximately $92 million in cash.[41]

In February 2016, the company's technology was used by Bullitt Group and Caterpillar Inc. in a mobile phone that uses its lightweight thermal imaging technology.[42]

In November 2016, FLIR acquired Point Grey Research, owner of the Brickstream brand of camera products, for $259 million.[43]

In December 2016, FLIR acquired Prox Dynamics, the makers of the Black Hornet Nano, a nano-drone used by the military and law enforcement for surveillance and reconnaissance, for $134 million.[44]

In May 2017, Jim Cannon was appointed President & CEO of the company.[45][46]

In January 2019, the company acquired Aeryon Labs for $200 million.[47][48]

In March 2019, the company acquired Endeavor Robotics, the former iRobot division responsible for unmanned ground vehicles (UGVs) for the global military, public safety, and critical infrastructure markets, for $382 million in cash.[49][50] The company also opened a second headquarters in Arlington County, Virginia.[51]

In October 2019, the company acquired patents related to tethered drones, which are connected to the ground with a cable and can stay aloft much longer than drones powered by batteries, from Aria Insights.[52]

In April 2020, during the COVID-19 pandemic, the company released a thermal camera that can be used to identify elevated skin temperature.[53] Demand for these products surged, putting stress on the company's supply chain.[54]

In January 2021, Teledyne Technologies announced that it had entered into a definitive agreement to acquire the company for $8 billion,[55][56] against FLIR's 2019 revenue of $1.9 billion.[57] The acquisition was completed in May 2021.[58]

See also[edit]

References[edit]

  1. ^ a b c d "FLIR Systems, Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ Dinaberg, Leslie (October 1, 2020). "A Hotspot for Seeking Heat". Santa Barbara Independent.
  3. ^ "As far as 30 fps vs. 9 fps video rates are concerned, why use one over the other?". FLIR. Retrieved 2022-06-03.{{cite web}}: CS1 maint: url-status (link)
  4. ^ HAMBLING, DAVID (June 27, 2014). "Why Your Phone Needs an Infrared Camera". Popular Mechanics. Archived from the original on 2018-05-08.
  5. ^ "Tactical Vision" (PDF). FLIR. Archived from the original (PDF) on 10 June 2022. Retrieved 10 June 2022.
  6. ^ "MilSight T105 Data Sheet". FLIR. Archived from the original on 12 June 2022. Retrieved 12 June 2022.
  7. ^ "AN/PVS-22 A1 (UNIVERSAL NIGHT SIGHT MID RANGE)" (PDF). Knight's Armament Company. Archived from the original (PDF) on 12 June 2022. Retrieved 12 June 2022.
  8. ^ "5855-01-531-5726 (241 09YN9UNS, 55883, AN/PVS-22) Data". Part Target. Archived from the original on 12 June 2022. Retrieved 12 June 2022.
  9. ^ "5855-01-509-6871 (23071) Data". Part Target. Archived from the original on 12 June 2022. Retrieved 12 June 2022.
  10. ^ McDermott Will & Emery (31 October 2011). ""Universal Night Sight" is a descriptive trademark". Lexology. Archived from the original on 12 June 2022. Retrieved 12 June 2022.
  11. ^ a b "Teledyne FLIR Company History". Teledyne FLIR.
  12. ^ SOPER, TAYLOR (January 4, 2021). "Teledyne to acquire thermal imaging company FLIR Systems for $8 billion in cash and stock". GeekWire.
  13. ^ Heberlein, Greg (August 28, 1995). "Gambling With Ipos -- Initial Public Offerings Can Be Risky, But Payoffs Can Be Handsome". Seattle Times.
  14. ^ "FLIR buys Agema". FlightGlobal. January 7, 1998.
  15. ^ "FLIR Systems, Honeywell, Industrial Devices, PC Soft, Robotic Workspace, SST, Visio, Wonderware". Control Engineering. January 1, 1998.
  16. ^ "COMPLAINT FOR VIOLATIONS OF THE FEDERAL SECURITIES LAWS". United States District Court for the District of Oregon – via U.S. Securities and Exchange Commission.
  17. ^ "FLIR Systems Completes Acquisition of Inframetrics". Photonics. April 2, 1999.
  18. ^ "Mergers". FlightGlobal. April 6, 1999.
  19. ^ "Flir Systems fires its CEO". Albany Democrat-Herald. May 26, 2000.
  20. ^ a b Hunsberger, Brent (April 26, 2013). "Flir Systems CEO Earl Lewis will step down, hand reins to Andrew Teich". The Oregonian.
  21. ^ a b Roland, Neil (October 1, 2002). "No fine as Flir settles with SEC". Seattle Times. Bloomberg News.
  22. ^ "Dreams realized, dreams deferred". American City Business Journals. December 24, 2004. Archived from the original on August 25, 2010.
  23. ^ Troshinsky, Lisa (January 9, 2004). "FLIR Completes Acquisition Of Indigo Systems Corp". Aviation Week & Space Technology.
  24. ^ Siemers, Erik (May 20, 2011). "FLIR to pay $39M to settle lawsuit". American City Business Journals.
  25. ^ Earnshaw, Aliza (March 2, 2007). "Flir on fast track after several years of strong growth". American City Business Journals.
  26. ^ "Flir to restate financial reports". American City Business Journals. March 1, 2007. Archived from the original on March 5, 2007.
  27. ^ Walden, Michael (November 13, 2007). "Court dismisses backdating complaints involving Flir". The Oregonian.
  28. ^ a b "Flir sells Extech Data Systems". American City Business Journals. December 16, 2009.
  29. ^ "FLIR Systems Reports Record Fourth Quarter and Full Year 2007 Financial Results" (Press release). GlobeNewswire. February 7, 2008.
  30. ^ "FLIR Systems Announces Acquisition of Ifara Tecnologias" (Press release). GlobeNewswire. April 8, 2008.
  31. ^ "Flir Systems buys Ifara Tecnologias". American City Business Journals. April 8, 2008.
  32. ^ Hunsberger, Brent (December 16, 2009). "Flir Systems sells printer unit to Datamax-O'Neil". The Oregonian. Archived from the original on June 9, 2011.
  33. ^ Hunsberger, Brent (December 28, 2009). "Flir Systems buys security-system supplier for $20 million". The Oregonian. Archived from the original on June 24, 2010.
  34. ^ Hunsberger, Brent (May 14, 2010). "Wilsonville-based Flir Systems outbids Garmin for bankrupt marine GPS maker". The Oregonian. Archived from the original on May 16, 2010.
  35. ^ "FLIR Systems Announces Acquisition of the Stock of Raymarine Holdings" (Press release). GlobeNewswire. May 14, 2010.
  36. ^ "FLIR Systems Completes Acquisition of Lorex Technology for $60 Million" (Press release). GlobeNewswire. December 20, 2012.
  37. ^ "FLIR Systems Sells Retail and SMB Visible-Spectrum Security Business" (Press release). GlobeNewswire. February 6, 2018.
  38. ^ "FLIR Systems Announces First Quarter 2013 Financial Results and Management Changes" (Press release). GlobeNewswire. April 26, 2013.
  39. ^ Rubenfeld, Samuel (April 8, 2015). "Flir Pays $9.5 Million to Settle FCPA Allegations". The Wall Street Journal.
  40. ^ "FLIR Systems Acquires DVTEL, Inc. for $92 Million" (Press release). GlobeNewswire. November 30, 2015.
  41. ^ Spencer, Malia (February 18, 2016). "Flir teams with Caterpillar on a phone that helps you see in the dark". American City Business Journals.
  42. ^ "FLIR Systems Completes Acquisition of Point Grey Research, Inc" (Press release). GlobeNewswire. November 4, 2016.
  43. ^ Glaser, April (December 1, 2016). "The company behind these pocket-sized military surveillance drones just got bought for $134 million". Vox Media. Archived from the original on 2016-12-02.
  44. ^ "FLIR Systems Announces Appointment of James J. Cannon as President and CEO" (Press release). GlobeNewswire. May 23, 2017.
  45. ^ Rogoway, Mike (May 23, 2017). "Flir hires new CEO from Stanley Black & Decker". The Oregonian.
  46. ^ "FLIR Systems Acquires Aeryon Labs for $200M" (Press release). Business Wire. January 28, 2019.
  47. ^ Spencer, Malia (January 28, 2019). "Flir buys Canadian drone maker for $200M". American City Business Journals.
  48. ^ "FLIR Systems Completes Acquisition of Endeavor Robotics" (Press release). Business Wire. March 4, 2019.
  49. ^ Spencer, Malia (February 11, 2019). "Flir buys Boston robotics company for $385M". American City Business Journals.
  50. ^ Spencer, Malia (March 13, 2019). "Wilsonville-based Flir splits its HQ with new Virginia office". American City Business Journals.
  51. ^ Maffei, Lucia (October 4, 2019). "FLIR buys Aria patents, aiming to merge ground and drone robots for military use". American City Business Journals.
  52. ^ Spencer, Malia (April 1, 2020). "Flir releases thermal camera that can detect elevated skin temps". American City Business Journals.
  53. ^ Xiao, Eva (May 21, 2020). "Covid-19 Raises Demand for Temperature Scanners". The Wall Street Journal.
  54. ^ "Teledyne to Acquire FLIR Systems" (Press release). Teledyne Technologies Incorporated. January 4, 2021.
  55. ^ Honovich, John (January 4, 2021). "Teledyne Acquires FLIR". IPVM.
  56. ^ Garg, Himanshu (5 February 2021). "Teledyne Technologies Has Acquired FLIR Systems: A Frost & Sullivan Viewpoint". Frost & Sullivan. Retrieved 13 June 2021.
  57. ^ "Teledyne Completes Acquisition of FLIR" (Press release). Business Wire. May 14, 2021.

External links[edit]