FLIR Systems Inc. (NASDAQ: FLIR) has acquired video surveillance developer DVTEL Inc. for $92 million in cash. DVTEL develops and distributes integrated video management system (VMS) software, advanced video analytics software, visible and thermal security cameras, and related servers and encoders. These products will complement FLIR's thermal and visible cameras as well as its Lorex-branded security systems, making it an end-to-end security system provider, serving the consumer, small and medium business, enterprise, and infrastructure-level markets.
DVTEL, based in New Jersey, was founded by chairman Yaron Eitan and president and CEO Yoav Stern. The company's development center in Rosh Ha'ayin has 60 employees. Over the years, DVTEL has also acquired several Israeli startups including Omnivee in 2005 and ioimage in 2010 for 480 million.
FLIR president and CEO Andy Teich said, "FLIR's strong position in thermal imaging together with DVTEL's extensive video analytics and VMS capability will position us well to offer differentiated and highly accurate perimeter security solutions for the upper corner of our Security segment's product value ladder. DVTEL adds a suite of professional-grade security software and hardware that is very complementary to our current solutions and fits very well with our strategy to offer end-to-end solutions in the enterprise and infrastructure segments of the security market."
Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2015
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