Security is a concern for both commercial and residential owners. FLIR Systems is a commercial brand that specializes in protected these spaces through its design and production of thermal imaging cameras, imaging sensors, and other security components. In an effort to expand its security initiatives and to secure a larger portion of the security market, FLIR Systems is making major acquisitions in the industry.
One of FLIR System’s largest and most recent acquisitions includes DVTEL, Inc., which is a smaller commercial security company that handles security and surveillance. DVTEL, Inc. is also recognized for developing leading software and hardware technologies that provides consumers with high-tech video surveillance capabilities. In addition to acquiring DVTEL, Inc., FLIR System’s has also acquired Lorex Technology for $60 million.
FLIR System’s business moves result in a number of positive implications for the industry and the brand. First and foremost, FLIR System’s is able to expand its product and service capabilities. The acquisition of DVTEL, Inc. enables FLIR to offer video management software (VMS), additional thermal security options, advanced video analysis software, encoders, and related servers. Second, with these capabilities, FLIR can provide a wider-range of services to both commercial and residential consumers. Lastly, FLIR also attains stronger and centralized control of the security market and an edge over its competitors in the services that it offers.
As Earl Lewis, President and CEO of FLIR Systems mentioned regarding the addition of Lorex and DVTEL, “Additionally, we believe the business will provide us an opportunity to expand our reach into several new markets as we continue our strategy of lowering the cost to own thermal technology.” Overall, it seems that the changes that FLIR systems is implementing are a move in a positive direction for the company and the future of advanced home and commercial security systems.