FLIR to Acquire Extech for Distribution
Extech has distribution in more than 90 countries and two foreign design, manufacturing and warehousing facilities in Taiwan and Hong Kong. Extech products will be combined with FLIR’s lower end thermography products to create kits. The transaction is expected to be accretive in subsequent years.
Portland, OR 10/25/07; Waltham, MA 10/25/07—FLIR Systems, a provider of thermal imaging and stabilized camera systems, has agreed to purchase test and measurement firm Extech for $40 million in cash. Extech supplies products for measurements of light, sound, temperature, humidity, air flow and water quality. Extech had 2006 revenues of $39.2 million. FLIR stated that the acquisition would expand its distribution channels for low price thermography products and add manufacturing in Asia. The acquisition is expected to close in the fourth quarter.
