FLIR Systems buys Swedish thermal imaging division

MAY 10--FLIR Systems Inc. (Portland, OR; www.flir.com), a leading supplier of thermal-imaging and broadcast camera systems, has agreed to purchase the Optronics Division of SaabTech Electronics AB (Stockholm, Sweden; www.saab.se), a leading vendor of defense, aviation, and space products and systems integration. The Optronics Division supplies thermal-imaging subsystems for weapon systems to European defense electronics companies. This transaction follows Saab's strategic plan to concentrate on fewer core technology areas.

In addition, the two companies will sign an agreement of cooperation. This agreement gives Saab access to FLIR's latest infrared technology.

Earl R. Lewis, FLIR president and chief executive officer, says, "This acquisition represents a strategic opportunity to extend FLIR products into weapon sight applications as well as continued sales to the Saab Group."