Teledyne FLIR
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. Operations. FLIR produces devices for the following markets: Facilities. 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. Products. FLIR One. The FLIR ONE camera is limited to 9 frames per second due to United States regulatory concerns. The camera can be used to detect water and air leaks. It is available as an add-on for Android and iOS devices. History. The company was founded in 1978 to pioneer the development of high-performance, low-cost infrared (thermal) imaging systems for airborne uses. 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. In June 1993, the company became a public company via an initial public offering, raising $12 million. In January 1998, the company acquired Agema Infrared System of Sweden for approximately $80 million. In January 1999, J. Kenneth Stringer III was named President & CEO of the company. In April 1999, the company acquired Inframetrics. In May 2000, Stringer was fired by the board of directors due to errors in the company's accounting practices, Earl Lewis replaced Stringer as President & CEO of the company, and 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 2004, the company acquired a building in Wilsonville, Oregon, from Mentor Graphics for $10.3 million for use as a new headquarters. 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. Beginning in 2005, the company began supplying BMW with imaging technology for use on its vehicles. 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. In October 2007, the company acquired Extech Instruments for $40 million. In April 2008, the company acquired Ifara Tecnologias of Spain for €7.0 million. In December 2009, it sold  Extech Data Systems, a division of Extech which made portable printers. Also in December 2009, the company acquired security hardware maker Directed Perception for $20 million. In May 2010, the company acquired bankrupt Raymarine for $180 million. In December 2012, the company acquired Lorex Technology for $60 million. Lorex was sold to Dahua Technology in 2018 for $29 million. In May 2013, Andrew C. Teich was appointed President & CEO after the retirement of Earl Lewis. 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 2015, the company acquired DVTEL, a provider of software and hardware technologies for advanced video surveillance, for approximately $92 million in cash. 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. In November 2016, FLIR acquired Point Grey Research, owner of the Brickstream brand of camera  products, for $259 million. 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. In May 2017, Jim Cannon was appointed President & CEO of the company. In January 2019, the company acquired Aeryon Labs for $200 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.