FLIR Systems Buys Salvador Imaging For $13 Million

PORTLAND (AP) — FLIR Systems Inc. said Thursday that it has acquired the stock of Salvador Imaging Inc. for $13 million cash.

FLIR, which designs and manufactures thermal imaging and stabilized camera systems said the acquisition adds capabilities in the infrared imaging business, a market closely related to its own.

It will improve product offerings to military customers and expand security and surveillance product lines available to commercial customers.

Colorado Springs, Colo.-based Salvador Imaging makes high-performance visible and low light cameras.

"Salvador's technology can be integrated into many of our multi-sensor systems for government applications, and has significant potential for standalone applications," said Earl Lewis, FLIR chief executive.

Salvador Imaging was renamed FLIR Advanced Imaging Systems Inc. and will operate as a separate business unit within FLIR's commercial vision systems division.

FLIR said the deal will be neutral to 2009 net earnings and will boost its results thereafter.

FLIR shares rose 10 cents to close at $24.32.