|Industry||Imaging technology, defense, security, law enforcement, thermography|
|Headquarters||Wilsonville, Oregon, U.S.|
|James J. Cannon, President & CEO|
Carol P. Lowe, CFO
Earl R. Lewis, Chairman
William W. Crouch, Director
|Products||Thermal imaging, infrared|
|Revenue||$1.923 billion (2020)|
|$212 million (2020)|
|Total assets||$3.252 billion (2020)|
|Total equity||$1.883 billion (2020)|
Number of employees
|Footnotes / references|
Teledyne FLIR LLC (an acronym for "forward-looking infrared"), 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.
FLIR produces devices for the following markets:
- Surveillance and Reconnaissance
- Force Protection
- Border and Maritime Patrol
- Critical Infrastructure Protection
- Search and Rescue
- Airborne Law Enforcement
- Drug Interdiction
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, Havlstad, and Fareham.
In May 2000, Stringer was fired by the board of directors due to errors in the company's accounting practices. PricewaterhouseCoopers was dismissed as auditor. 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.
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. In 2011, after losing a trade secrets claim against the founders of Indigo Systems, FLIR agreed to pay $39 million to settle a countersuit.
In March 2007, the company reported that it would restate its financial statements for the period from 1995 to 2005 due to options backdating. FLIR had been sued by investors for options backdating but the lawsuits were thrown out in November 2007.
Also in December 2009, the company acquired security hardware maker Directed Perception for $20 million.
In November 2015, the company acquired DVTEL, a provider of software and hardware technologies for advanced video surveillance, for approximately $92 million in cash.
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.
In November 2016, FLIR acquired Point Grey Research, owner of the Brickstream brand of camera products, for $259 million.
In March 2019, the company acquired Endeavor Robotics, a developer of unmanned ground vehicles (UGVs) for the global military, public safety, and critical infrastructure markets, for $382 million in cash. The company also opened a second headquarters in Arlington County, Virginia.
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.
In April 2020, during the COVID-19 pandemic, the company released a thermal camera that can be used to identify elevated skin temperature. Demand for these products surged, putting stress on the company's supply chain.
In January 2021, Teledyne Technologies announced that it had entered into a definitive agreement to acquire the company for $8 billion, against FLIR's 2019 revenue of $1.9 billion. The acquisition was completed in May 2021.
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- "FLIR Systems Acquires DVTEL, Inc. for $92 Million" (Press release). GlobeNewswire. November 30, 2015.
- "FLIR Systems Announces First Quarter 2013 Financial Results and Management Changes" (Press release). GlobeNewswire. April 26, 2013.
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- "FLIR Systems Acquires Aeryon Labs for $200M" (Press release). Business Wire. January 28, 2019.
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- Spencer, Malia (April 1, 2020). "Flir releases thermal camera that can detect elevated skin temps". American City Business Journals.
- Xiao, Eva (May 21, 2020). "Covid-19 Raises Demand for Temperature Scanners". The Wall Street Journal.
- "Teledyne to Acquire FLIR Systems" (Press release). Teledyne Technologies Incorporated. January 4, 2021.
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- "Teledyne Completes Acquisition of FLIR" (Press release). Business Wire. May 14, 2021.