Flir’s strategic move into machine vision

With the acquisition of Point Grey, Flir Systems has made a strategic move in the machine vision sector, argue Dr Eric Mounier and Pierre Cambou at market research firm Yole Développement – An article written by Yole Développement for Imaging Machine Vision Europe.

Portable uncooled infrared imagers are now commodity products for outdoor and leisure pursuits, extending what people can see into the infrared. Machine vision is doing the same by expanding its vision range from visible to the far infrared for better performance and to open up new applications.

On the 3 October, Flir Systems acquired Point Grey Research for $253 million. Point Grey is a leading designer and manufacturer of high performance digital cameras for industrial, medical, traffic and security applications.

The growth of Flir Systems has been largely inorganic, with the company built mainly through strategic acquisitions and M&As. The Point Grey purchase is Flir’s second acquisition in 2016 after Armasight, which it bought for $41 million to better serve outdoor sporting, law enforcement, and military markets. At the end of 2015, Flir acquired DVTEL for $92 million, a software company specialising in image analytics for security.

In 2015, Flir Systems achieved $348 million in revenue for its Instruments portfolio, the second largest revenue after its Surveillance sector, and the highest operating margin at 33 per cent.

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Source: Imaging Machine Vision Europe – IMV Europe