FLIR Systems, Inc. announced today that it has acquired the stock of Traficon International NV, a leader in video detection technologies for traffic applications, for approximately $46 million in cash.
Traficon, based in Wevelgem, Belgium, is a global leader in video image processing software and hardware for traffic analysis. Traficon produces intelligent technology that makes traffic safer and more efficient through solutions for automatic incident detection, traffic data collection, and intersection vehicle and pedestrian presence detection. Traficon has more than 25 years of proven field experience and more than 80,000 video-based transportation control and monitoring systems operational worldwide.
"We have shown that thermal imaging is a superior solution for monitoring traffic," said Earl Lewis, President and CEO of FLIR. "This acquisition will accelerate the adoption of FLIR technology in the expanding worldwide market for video-based traffic control solutions as we utilize Traficon's strong distribution network. Additionally, Traficon's video analytics capabilities will be integrated into our other imaging lines of business offering enhanced functionality and the development of new applications."
FLIR anticipates this transaction will be neutral to 2013 net earnings and accretive thereafter.