FLIR Systems to acquire Inframetrics
In the preliminary agreement to acquire Inframetrics Inc. (Billerica, MA), FLIR Systems (Portland, OR) will issue approximately 2.3 million shares of its common stock to the other firm`s shareholders in exchange for all of its outstanding stock. According to Robert Daltry, chairman and chief executive officer of FLIR, the manufacturer of thermal-imaging and broadcast camera systems and image-analysis software had sales of $91.8 million in 1997 and $104 million through the first nine months of 1998. Inframetrics, which also supplies thermal-imaging technology, had 1997 sales of $53.5 million. The proposed transaction will be accounted for on a pooling-of-interests basis and is subject to execution of a definitive agreement, approval of the shareholders of Inframetrics, and the receipt of all applicable regulatory approvals under the Hart-Scott-Rodino Antitrust Improvements Act