FLIR Acquires ISD
June 9, 2016
FLIR Systems has acquired Innovative Security Designs (ISD), a provider of intelligent systems and IP technologies, in a deal that finalized June 3, 2016.
About a year ago, FLIR partnered with ISD on several projects, and the two companies became familiar with each other’s skillsets and plans.
John Distelzweig, general manager of FLIR’s security segment, called it an IP-related acquisition and said it was part of FLIR’s plan to build out its higher-end camera business. “ISD has a good IP-based portfolio for IP cameras and an expertise that’s complementary to what we have with respect to our thermal camera manufacturing,” said Distelzweig, “so it’s just another piece in the puzzle in the sense of building out our security product portfolio.”
Distelzweig said FLIR’s roadmaps and aspirations aligned with ISD’s expertise, making the acquisition a good fit, and while the acquisition is small in terms of capital structure, Distelzweig said “it will have a future impact on FLIR for sure.”
ISD management and employees will stay in place, and ISD’s existing customer base will continue to enjoy the products ISD has made historically, according to Distelzweig. In general, however, ISD goods and services will be brought under the umbrella of FLIR in name and in practice.
While FLIR has no specific security industry acquisitions on the horizon, Distelzweig said, “FLIR has always been an active acquirer, so never rule anything out.”