(By Balachander) FLIR Systems Inc. (NASDAQ: FLIR) said it has acquired Traficon International NV, a Belgium-based provider of video detection technologies for traffic applications, for roughly $46 million in cash.
FLIR, a maker of thermal imaging systems, expects the deal to be neutral to 2013 net earnings and accretive thereafter.
Traficon offers video image processing software and hardware for automatic incident detection, traffic data collection, and intersection vehicle and pedestrian presence detection. Traficon has more than 80,000 video-based transportation control and monitoring systems operational worldwide.
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FLIR said the acquisition will accelerate the adoption of FLIR technology in the expanding worldwide market for video-based traffic control solutions.
"Additionally, Traficon's video analytics capabilities will be integrated into our other imaging lines of business offering enhanced functionality and the development of new applications," FLIR said.
FLIR's advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications.
FLIR shares dropped 0.52 percent to trade at $22.09 on Friday.