A subsidiary of industrial products company Dover Corp. (DOV) purchased the data systems division of a FLIR Systems Inc. (FLIR) subsidiary. The terms of the transaction were not disclosed.
Dover’s Datamax-O’Neil unit, which makes label and receipt printing products, acquired Extech Instruments’ data systems division, maker of portable printers.
Dover’s acquisition was part of its efforts to expand its presence in markets for product identification. The former Extech unit will be fully integrated into Datamax-O’Neil during a four-month period and will make printers with the Datamax-O’Neil brand.
For FLIR Systems, the transaction will be immaterial to its financial results.
The acquisition of Extech Instruments expanded FLIR’s access to key distribution channels for emerging low-price Thermography products. The Extech Data Systems business was a separate unit of Extech that was not aligned with FLIR’s strategic direction.
FLIR Systems, Inc. designs, manufactures and markets thermal imaging and infrared camera systems in the United States and internationally. It operates in three divisions: Thermography, Commercial Vision Systems, and Government Systems. Major competitors include L-3 Communication Holdings Inc. (LLL) and Lockheed Martin Corp. (LMT).
We currently have a Neutral recommendation on FLIR.
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