PORTLAND, Ore., March 25 -- FLIR Systems Inc. has signed a definitive merger agreement and received Hart-Scott-Rodino Antitrust approval for its proposed acquisition of Inframetrics Inc. Subject to the receipt of approval by Inframetrics' shareholders, FLIR expects to complete the pooling-of-interests transaction by the end of this month.
FLIR will issue approximately 2.3 million shares of its common stock to the shareholders of Inframetrics (including shares issuable upon the exercise of options to purchase Inframetrics stock) in exchange for all of Inframetrics' outstanding stock. The combination of these two growing and profitable companies will create one of the strongest commercial infrared imaging companies in the world, stated Ken Stringer, President and Chief Executive Officer of FLIR.