FLIR Systems is to acquire a controlling interest in Cedip Infrared Systems, a provider of infrared cameras and stabilised gimballed systems based in Croissy-Beaubourg, France.
Founded in 1989, Cedip manufactures cooled mid- and long-wave infrared cameras for the science and security markets as well as stabilised gimbals for a variety of airborne commercial and government applications.
For the fiscal year ended December 31, 2006, Cedip reported revenue of €18.2m and operating income of €31m.
In the scientific camera market, the acquisition improves FLIR's international distribution network and brings it new products and technology, including cooled mid-wave infrared cameras, as well as a manufacturing and technology base in Europe.
Once the deal is done, Cedip's infrared camera operations will be integrated into FLIR's Thermography Division. Its Polytech subsidiary in Eskilstuna in Sweden, which specialises in gimbal systems, will be integrated into FLIR's Government Systems Division.
The transaction is subject to various closing conditions, including the authorisation of the French Minister of Finance and Economy.
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