FLIR Systems buys Prox Dynamics for $134 million

WILSONVILLE, Ore., Nov. 30 (UPI) -- Sensor developer FLIR Systems announced it has acquired unmanned aerial systems maker Prox Dynamics for $134 million in cash.

In a statement announcing the buy, FLIR praised Prox Dynamics as a competent manufacturer of small, covert unmanned aerial systems. After the acquisition is finalized, FLIR will have access to the company's product line, and will continue to develop new devices to support military and para-military intelligence operations.

"This acquisition adds a unique unmanned aerial systems capability to our portfolio," FLIR CEO and president Andy Teich said. "The team at Prox Dynamics operates with a commercial mindset, which is a great fit for FLIR's 'commercially developed, military qualified,' or 'CDMQ,' operating philosophy. We are excited to welcome the Prox Dynamics team to FLIR and look forward to working together to further advance this remarkable system capability."

Prox Dynamics was founded in Oslo, Norway in 2007, by manufacturers specializing in covert surveillance systems. Among the company's products is the pocket-sized Black Hornet aerial sensor, which can be hand-launched by soldiers on the battlefield to collect intelligence and support surveillance operations.