FLIR Systems, Inc. announced that it has completed its previously announced acquisition of Endeavor Robotic Holdings, Inc., a developer of battle-hardened, tactically unmanned ground vehicles Unmanned Ground Vehicles (UGVs) for the global military, public and critical infrastructure market, which was sold by Arlington Capital Partners for $ 382 million (€337 million).
Headquartered in the Boston area, Endeavor, formerly known as iRobot Defense & Security, exported more than 7,000 UGVs to customers in more than 55 countries. Extremely manoeuvrable and easy-to-use, Endeavor ground robots are used with advanced sensor technology and state-of-the-art anti-bombing, detection and inspection systems to assist troops, police and industrial users in dealing with hazardous materials that need to be kept at a distance.
Endeavor, one of the US Department of Defense’s largest UGV vendors, continues to be a key supplier of unmanned systems for the rapid modernisation of world-wide facilities for military operations and law enforcement.
” With the acquisition of Endeavor, FLIR will become a leading provider of unmanned aerial and ground solutions to support fighter pilots, as well as public safety and critical infrastructure professionals,” said Jim Cannon, president and CEO of FLIR Systems. ” We look forward to welcoming Endeavor to the FLIR team and driving our mission to develop innovative technologies that save lives and protect livelihoods.”
Endeavor is now part of FLIR’s Unmanned Systems business and integrated government and defense solutions business. The transaction is expected to dilute FLIR Systems’ adjusted earnings per share of $ 0.03 (€0.026) in 2019, which will increase later in the year, as borrowing costs are incurred in connection with the acquisition financing.