FLIR Systems Acquires Aeryon Labs - Quick Facts

(RTTNews) - FLIR Systems, Inc. (FLIR) announced that it has acquired Aeryon Labs Inc., a developer of high-performance unmanned aerial systems for the global military, public safety, and critical infrastructure markets for $200 million. Based in Waterloo, Canada, and with offices in Denver and Salt Lake City, Aeryon Labs is a designer and manufacturer of mission-focused Group 1 UAS solutions built around aircraft under 20 pounds.

Aeryon Labs is now part of the FLIR Government and Defense Business Unit's Unmanned Systems and Integrated Solutions division. The transaction is expected to be $0.02 dilutive to FLIR Systems' 2019 earnings due to anticipated product development investments, and accretive thereafter.

"The acquisition of Aeryon Labs reinforces our long-term strategy to move beyond providing sensors to the development of complete solutions that save lives and livelihoods. This acquisition, coupled with our acquisition of Prox Dynamics in 2016, greatly increases our unmanned systems solutions capabilities, expanding beyond nano-UAS into Group 1 UAS solutions for military. We intend to continue to invest and build this area of our business and broaden our capabilities," said Jim Cannon, President and CEO of FLIR Systems.