TELEDYNE-FLIR ANALYSIS
Acquisitions elsewhere
LMI Technologies has bought FringeAI to form a new AI solutions group. FringeAI is an AI and IIoT/5G inspection company based in Boston, Massachusetts. Its technology incorporates neural networks, edge devices and cloud services. Mark Radford, CEO of LMI, said: ‘With FringeAI, LMI can combine a highly- effective AI software solution to deliver the benefits of AI deep learning to the factory that includes sensor hardware and cloud-based support for the most challenging 2D and 3D inspection tasks.’
Z-Laser is now owned by Boston-based private equity firm Union Park Capital. The manufacturer of laser sources and laser projectors will serve as the core and initial asset in Union Park’s newly created holding company, Exaktera.
The owner of Isra Vision, Sweden’s Atlas Copco Group, has acquired the American firm Perceptron to expand its machine vision offerings. Perceptron makes automated 3D measuring solutions and co-ordinate measurement systems. The products complement Isra Vision’s 3D vision systems and, together, they offer a portfolio of solutions for automating key applications along the automotive production line.
Konica Minolta has bought Finnish hyperspectral imaging firm Specim to expand in areas such as recycling and food sorting.
Applied Vision, of Akron, Ohio, is now owned by the Antares Vision Group.
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question on everyone’s lips for thermal imaging and machine vision camera markets is: how will the remaining industry players react? In each case, rapid technology development may ensue as businesses rush to gain a competitive advantage. At the same time, more acquisitions
could follow. Termal imaging firms may reposition themselves across their market, while machine vision players such as Keyence and Cognex could consolidate
power. And given Teledyne’s record of aggressive growth by acquisition, perhaps we will see more buyouts from the industrial giant, making it even more of a formidable force.
Dr Dimitrios Damianos is a custom project business developer, and technology and market analyst at Yole Développement, while Dr Eric Mounier is the firm’s director of market research
Dr Chris Yates, director of Vision Ventures, says the deal emphasises the relevance of vision as an attractive investment
T
he first few days of 2021 saw the announcement of the largest ever corporate transaction with a strong
vision focus, in the takeover of Flir Systems by Teledyne Technologies, expected to complete in mid-2021 subject to regulatory approvals. Te $8bn deal is the largest in Teledyne’s history and will create a group with combined earnings in excess of $5bn (based on 2019 figures) and a very wide coverage of vision technology. Both have an established history of growth
through acquisitions. Teledyne has acquired well over 50 companies during its history, with several recent transactions focused on vision technologies, notably through the acquisition of the e2v group in 2017, followed by the Lumenera, Princeton Instruments and Photometrics deal which formed the scientific imaging business of Roper Technologies. Teledyne’s imaging technology business represents around a third of group revenue, and is likely to be the largest overall segment when this transaction closes. Similarly, Flir has acquired more than
30 companies since the firm’s initial public offering in 1993, including Point Grey Research in 2016 and multiple companies in the infrared detection and imaging space, reinforcing its well-known capability in thermal imaging. More recently Flir has broadened its focus and made a series of acquisitions and investments in robotic and drone technology firms, including iRobot spin-out Endeavour Robotics in 2019, and several drone technology suppliers such as Prox Dynamics and DroneBase. For the vision industry this new
acquisition represents further consolidation, continuing the trend of the last years as the wider industry matures, as well as the provision of a very broad portfolio of imaging technologies from one supplier. Both Teledyne and Flir have strong capabilities
6 IMAGING AND MACHINE VISION EUROPE FEBRUARY/MARCH 2021
in the development of image sensors, and the combined company will be able to offer imaging products across probably the widest spectrum in the market, targeted at multiple verticals, as well as products and solutions created on top of the foundation sensing modalities. Clear synergies between the companies
can be seen in addition to the focus on imaging technology, particularly in the areas of unmanned or autonomous vehicles, exposure to the defence, aerospace and marine markets, plus industrial instrumentation and sensing. Te relatively small overlap between the
‘Te combined company will be able to offer imaging products across probably the widest spectrum in the market’
two firm’s product portfolios and proprietary technologies highlights the strategic nature of the acquisition and long-term Teledyne perspective. At the same time the large transaction size and increased Teledyne footprint will increase the awareness of vision technology, and should emphasise the relevance of vision as a source of innovation and attractive investments for the future. O
Vision Ventures specialises in corporate transactions in automated imaging, machine vision and computer vision
@imveurope |
www.imveurope.com
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