Flir acquires Prox Dynamics for $134 Million

Norwegian Prox Dynamics develops, manufactures, and distributes aerial sensors that are small, light, and covert surveillance systems. Prox Dynamics' Personal Reconnaissance System (PRS) features their Black Hornet aerial sensor and a hand controller, a system that is pocket sized and hand-launched by a soldier in the field. The Black Hornet aerial sensor utilises Flir's Lepton micro thermal camera, visible spectrum cameras, advanced low-power rotor technology, and proprietary software for flight control, stabilisation, and communications. The addition of the Prox Dynamics business will augment Flir's Surveillance segment by extending Flir's Airborne sensor product line and fully leveraging Lepton technology. Flir intends to invest in optimising the PRS platform to further enhance the range, cost, flexibility, and performance of the system. The business will become Flir's Unmanned Aerial Systems (UAS) line of business operating within the Surveillance segment. "This acquisition adds a unique unmanned aerial systems capability to our portfolio. The Prox Dynamics team has created a highly-differentiated solution, incorporating our Lepton sensor, for advanced intelligence, surveillance, and reconnaissance that fits well with our vision for growth for our Surveillance segment," said Andy Teich, President and CEO of Flir.