Flir Systems to Buy Extech Instruments

Flir Systems Will Buy Extech Instruments for $40 Million in Cash, Expand Distribution Channels

PORTLAND, Ore.—Flir Systems Inc., which makes infrared imaging cameras for commercial and military use, said Thursday it plans to acquire the stock of Extech Instruments Corp. for $40 million in cash.

Waltham, Mass.-based Extech, a supplier of test and measurement equipment, reported revenue of $39.2 million in 2006.

The addition of Extech will provide Flir access to new distribution channels and low-cost manufacturing in Asia, the company said.

The deal, which is expected to close in the fourth quarter, will add to earnings after 2008, Flir said.

Flir shares hit a new all-time high of $67.93 in morning trading, and recently gained $8.87, or 15.1 percent, to reach $67.80.