Monday, January 4, 2021

Teledyne Acquires FLIR For $8.0 Billion

Thousand Oaks-based Teledyne Technologies said today that it has agreed to acquire FLIR Systems, which develops infrared cameras and similar technology, in a deal worth $8.0 billion. According to Teledyne, the cash and stock transaction is split between $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share. Both companies develops sensors, cameras, and sensor systems. Teledyne said that it is funding the death through a $4.5 billion 364-day credit commitment to fund the transaction and refinance certain existing debt, and expects to fund the transaction with permanent financing prior to closing.