Electronics Production | May 18, 2010
Flir acquires Raymarine
Flir has entered into a definitive agreement with the Administrator of Raymarine to acquire all of the outstanding shares of its wholly owned subsidiary, Raymarine Holdings Limited.
The transaction value of approximately $180 million includes repayment of all of Raymarine's indebtedness and approximately $24 million in proceeds to Raymarine plc which is equivalent to 20 pence per ordinary share. The acquisition represents the entire business operations of Raymarine and its subsidiaries. The acquisition furthers Flir's strategy in the marine market by dramatically increasing its maritime distribution network with the addition of Raymarine's 1,000 dealer outlets and 400+ marine OEMs, nearly all of which are additive to Flir's existing distribution. Flir plans to expand Raymarine's product line breadth by integrating thermal imaging cameras with Raymarine's display, radar and autopilot product lines to create the broadest.