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Raymarine Holdings Ltd acquired by FLIR Systems, Inc.

15.05.2010

May 2010 – Raymarine is pleased to report that FLIR Systems, Inc. (NASDAQ: FLIR) has entered into a definitive agreement with the Administrator of Raymarine plc to acquire all of the outstanding shares of its wholly owned subsidiary, Raymarine Holdings Ltd.  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.

 

Raymarine, a world leader in the marine electronics industry, provides the most comprehensive range of electronic equipment for the recreational boating and light commercial marine markets.  For the twelve months ended December 31, 2009, Raymarine reported revenue of approximately $170 million (£104.3 million).

"This is a strategically compelling transaction for FLIR," commented Earl Lewis, FLIR’s President and CEO. "Raymarine is a leading brand in the industry and has an outstanding reputation for high quality marine electronics equipment.  When fully integrated, we expect to have a significant marine electronics business as part of our Commercial Systems business.  I welcome Raymarine's employees to FLIR." 

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, most effective, and easiest to use suite of products in the marine electronics industry.

Andy King, Director of Sales and Marketing for Raymarine UK Ltd, said, “This has tremendous possibilities for Raymarine, our distribution network and our customers particularly as thermal imaging, with the ability to see clearly at night, will become more important to the leisure boater.  It’s very exciting news and we welcome this next step in the story of the Raymarine brand and product.” 

 

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 to FLIR's existing distribution.

 

All employees of the Raymarine Group have been transferred to FLIR as part of the sale of Raymarine Holdings Ltd.  FLIR has no products that compete with Raymarine and there will be no changes to Raymarine facilities as a result of the acquisition.  Suppliers should continue to work with Raymarine as normal and all trade creditors will be paid in the normal course of business.

 

Ends

About FLIR Systems

FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of thermal imaging and stabilized camera systems for a wide variety of thermography and imaging applications including condition monitoring, research and development, manufacturing process control, airborne observation and broadcast, search and rescue, drug interdiction, surveillance and reconnaissance, navigation safety, border and maritime patrol, environmental monitoring and ground-based security. Visit the Company's web site at www.FLIR.com.

 

About Raymarine

Raymarine is a world leader in the supply of electronic products for the recreational and light commercial marine markets.

It manufactures a comprehensive range of marine navigation, communication and safety products including multifunction displays, radars, autopilots, cameras, fishfinders, GPS enabled chartplotters, automatic identification systems and instruments. The Raymarine Group is headquartered in Portsmouth, UK and maintains offices in the United States, Australia, Singapore, France, Germany and Italy. Visit the Company’s website at www.raymarine.com

Kajalood, kajaloed, kajaloodid, kajaloe, kajaloodi, kajaloode, kajaloodiks, kajaloena, kajaloeks, kajaloes, kajaloodide, kajaloele, kajaloodisi, kajaloodisid, kajaloodina, kajaloodile, kajaloodidele, kaikuluotain, kaikuluotaimet, kaiku,

Kõige värskemad uudised leiate alati Raymarine kodulehelt

 kaikuplotteri, karttaplotteri, monitoiminäyttö, tutka, autopilotti, syvyys, nopeus, tuulijärjestelmä, kupuantenni,


Kehtiv valuuta on EUR ja kaupade hinnad sisaldavad Eesti käibemaksu 20%. Tasuda saab pangaülekandega, krediitkaardiga

(Visa, MasterCard), Eesti pangalinkidega (Swedbank, SEB, LHV Pank, Nordea, Danskebank, Krediidipank) ja SVEA järelmaksuga.

 
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