Traficon seeks to establish further growth in the traffic market as part of thermal imaging leader FLIR Systems, Inc.
Wevelgem, Belgium, 29 December 2012 – Traficon announced today that the company has been acquired by FLIR Systems, Inc. With this acquisition, Traficon is happy to welcome a strong partner to ensure further growth in the global Intelligent Transportation Systems (ITS) market on the long term. The acquisition was completed on Friday 28 December 2012, with FLIR taking over all shares from Traficon’s main shareholder Indufin as well as all shares from Traficon’s management team and employees.
“Traficon and FLIR Systems have been working on joint projects for over a year, combining Traficon’s video detection algorithms with FLIR’s thermal imaging technology,” comments Lode Caenepeel, CEO at Traficon. “Already there we saw great synergies between both companies and many interesting possibilities for future collaboration. That is why we believe the choice of FLIR as a partner for future growth is a logical one and we are glad that FLIR will be supporting us in our efforts to offer high-quality video detection products and solutions for the traffic market.”
“Indufin has always felt very privileged to accompany Traficon in its continued growth path,” comments Joris Rome, from private equity company Indufin, former major shareholder of Traficon. “We remain very grateful to Lode Caenepeel, his management team and the entire personnel of Traficon, whose relentless drive has established Traficon as the undisputed world-wide leader and reference in the traffic market. The combination of Traficon and FLIR should further accelerate this leadership position and offer its customers unique solutions.”
Traficon is a global leader in video image processing for traffic analysis. Based in Wevelgem, Belgium, Traficon produces intelligent technology that makes traffic safer and more efficient. Traficon offers solutions for automatic incident detection and traffic data collection, intersection vehicle and pedestrian presence detection. Traficon has more than 25 years of proven field experience and more than 80,000 detectors operational worldwide.
About FLIR Systems
FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. The company's advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications, including airborne and ground-based surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, environmental monitoring, and chemical, biological, radiological, nuclear, and explosives (CBRNE) detection. Visit the Company's web site at www.FLIR.com.
Indufin is a private equity investment company which is investing in medium-sized companies in Belgium and Luxembourg and has a selected approach towards investment opportunities in neighbouring countries. As part of the groups De Eik and Luxempart, Indufin provides capital and know-how to support (international) growth, buy-outs and buy-ins.
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