FLIR FC-Series ID: Best-in-class thermal camera with on-board analytics for high-performance intrusion detection
FLIR FC-Series ID: Best-in-class thermal camera with on-board analytics for high-performance intrusion detection

The new FC-Series ID combines best-in-class thermal image detail and high performance edge perimeter analytics in a single device that delivers optimal intrusion detection in challenging environments and extreme conditions. FC-Series ID cameras feature on-board video analytics optimized for FLIR’s thermal sensors. Easy to set up and capable of classifying human or vehicular intrusions, FC-Series ID cameras provide reliable detection with very few false alarm rates, all without human intervention.  High-performance intrusion detection Reliable on-board analytics with a very low false-alarm rate Auto calibration of depth setup, for a simple and reliable configuration. No additional measurement tools are needed, requiring only a single installer on site Allows analytics in corridor mode, reducing the number of cameras and improving the total cost of ownership Manual and automatic masking of area in the scene  Industry-leading image quality Crisp, clean imagery for unmatched video analytics performance & reliability Superior image quality in low-contrast conditions FLIR’s custom AGCs provide unmatched image contrast Dynamic Detail Enhancement (DDE) creates sharp edges and contrast that improve analytics performance  Expanded selection of high-performance lenses Wide variety of lenses for optimal detection ranges in all conditions Choose lenses from 44 degrees (13mm) to 8 (VGA) / 4 (QVGA) degrees (75mm), suitable for any perimeter or open area High performance optics deliver crisp, clean thermal video Optional deicing for use in the most demanding installations High analytic ranges to reduce number of cameras and total cost of ownership (TCO)

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IP cameras - Expert commentary

We have the technology to make society safer – how long can we justify not using it?
We have the technology to make society safer – how long can we justify not using it?

While the application of facial recognition within both public and private spheres continues to draw criticism from those who see it as a threat to civil rights, this technology has become extremely commonplace in the lives of iPhone users. It is so prevalent, in fact, that by 2024 it is predicted that 90% of smartphones will use biometric facial recognition hardware. CCTV surveillance cameras  Similarly, CCTV is a well-established security measure that many of us are familiar with, whether through spotting images displayed on screens in shops, hotels and offices, or noticing cameras on the side of buildings. It is therefore necessary we ask the question of why, when facial recognition is integrated with security surveillance technology, does it become such a source of contention? It is not uncommon for concerns to be voiced against innovation. History has taught us that it is human nature to fear the unknown, especially if it seems that it may change life as we know it. Yet technology is an ever-changing, progressive part of the 21st century and it is important we start to shift the narrative away from privacy threats, to the force for good that LFR (Live Facial Recognition) represents. Live Facial Recognition (LFR) We understand the arguments from those that fear the ethics of AI and the data collection within facial recognition Across recent weeks, we have seen pleas from UK organisations to allow better police access to facial recognition technology in order to fight crime. In the US, there are reports that LAPD is the latest police force to be properly regulating its use of facial recognition to aid criminal investigations, which is certainly a step in the right direction. While it is understandable that society fears technology that they do not yet understand, this lack of knowledge is exactly why the narrative needs to shift. We understand the arguments from those that fear the ethics of AI and the data collection within facial recognition, we respect these anxieties. However, it is time to level the playing field of the facial recognition debate and communicate the plethora of benefits it offers society. Facial recognition technology - A force for good Facial recognition technology has already reached such a level of maturity and sophistication that there are huge opportunities for it to be leveraged as a force for good in real-world scenarios. As well as making society safer and more secure, I would go as far to say that LFR is able to save lives. One usage that could have a dramatic effect on reducing stress in people with mental conditions is the ability for facial recognition to identify those with Alzheimer’s. If an older individual is seemingly confused, lost or distressed, cameras could alert local medical centres or police stations of their identity, condition and where they need to go (a home address or a next of kin contact). Granted, this usage would be one that does incorporate a fair bit of personal data, although this information would only be gathered with consent from each individual. Vulnerable people could volunteer their personal data to local watchlists in order to ensure their safety when out in society, as well as to allow quicker resolutions of typically stressful situations. Tracking and finding missing persons Another possibility for real world positives to be drawn from facial recognition is to leverage the technology to help track or find missing persons, a lost child for instance. The most advanced forms of LFR in the market are now able to recognise individuals even if up to 50% of their face is covered and from challenging or oblique angles. Therefore, there is a significant opportunity not only to return people home safely, more quickly, but also reduce police hours spent on analysing CCTV footage. Rapid scanning of images Facial recognition technology can rapidly scan images for a potential match Facial recognition technology can rapidly scan images for a potential match, as a more reliable and less time-consuming option than the human alternative. Freed-up officers could also then work more proactively on the ground, patrolling their local areas and increasing community safety and security twofold. It is important to understand that these facial recognition solutions should not be applied to every criminal case, and the technology must be used responsibly. However, these opportunities to use LFR as force for good are undeniable.   Debunking the myths One of the central concerns around LFR is the breach of privacy that is associated with ‘watchlists’. There is a common misconception, however, that the data of every individual that passes a camera is processed and then stored. The reality is that watch lists are compiled with focus on known criminals, while the general public can continue life as normal. The very best facial recognition will effectively view a stream of blurred faces, until it detects one that it has been programmed to recognise. For example, an individual that has previously shoplifted from a local supermarket may have their biometric data stored, so when they return to that location the employees are alerted to a risk of further crimes being committed. Considering that the cost of crime prevention to retailers in recent years has been around £1 billion, which therefore impacts consumer prices and employee wages, security measures to tackle this issue are very much in the public interest. Most importantly, the average citizen has no need to fear being ‘followed’ by LFR cameras. If data is stored, it is for a maximum of 0.6 seconds before being deleted. Privacy Privacy is ingrained in facial recognition solutions, yet it seems the debate often ignores this side of the story Privacy is ingrained in facial recognition solutions, yet it seems the debate often ignores this side of the story. It is essential we spend more time and effort communicating exactly why watchlists are made, who they are made for and how they are being used, if we want to de-bunk myths and change the narrative. As science and technology professionals, heading up this exciting innovation, we must put transparency and accountability at the centre of what we do. Tony Porter, former Surveillance Camera Commissioner and current CPO at Corsight AI, has previously worked on developing processes that audit and review watch lists. Such restrictions are imperative in order for AI and LFR to be used legally, as well as ethically and responsibly. Biometrics, mask detection and contactless payments Nevertheless, the risks do not outweigh the benefits. Facial recognition should and can be used for good in so many more ways than listed above, including biometric, contactless payments, detecting whether an individual is wearing a facemask and is therefore, safe to enter a building, identifying a domestic abuse perpetrator returning to the scene of a crime and alerting police. There are even opportunities for good that we have not thought of yet. It is therefore not only a waste not to use this technology where we can, prioritising making society a safer place, it is immoral to stand by and let crimes continue while we have effective, reliable mitigation solutions.  

Safety in smart cities: How video surveillance keeps security front and centre
Safety in smart cities: How video surveillance keeps security front and centre

Urban populations are expanding rapidly around the globe, with an expected growth of 1.56 billion by 2040. As the number of people living and working in cities continues to grow, the ability to keep everyone safe is an increasing challenge. However, technology companies are developing products and solutions with these futuristic cities in mind, as the reality is closer than you may think. Solutions that can help to watch over public places and share data insights with city workers and officials are increasingly enabling smart cities to improve the experience and safety of the people who reside there. Rising scope of 5G, AI, IoT and the Cloud The main foundations that underpin smart cities are 5G, Artificial Intelligence (AI), and the Internet of Things (IoT) and the Cloud. Each is equally important, and together, these technologies enable city officials to gather and analyse more detailed insights than ever before. For public safety in particular, having IoT and cloud systems in place will be one of the biggest factors to improving the quality of life for citizens. Smart cities have come a long way in the last few decades, but to truly make a smart city safe, real-time situational awareness and cross-agency collaboration are key areas which must be developed as a priority. Innovative surveillance cameras with integrated IoT Public places need to be safe, whether that is an open park, shopping centre, or the main roads through towns Public places need to be safe, whether that is an open park, shopping centre, or the main roads through towns. From dangerous drivers to terrorist attacks, petty crime on the streets to high profile bank robberies, innovative surveillance cameras with integrated IoT and cloud technologies can go some way to helping respond quickly to, and in some cases even prevent, the most serious incidents. Many existing safety systems in cities rely on aging and in some places legacy technology, such as video surveillance cameras. Many of these also use on-premises systems rather than utilising the benefits of the cloud. Smart programming to deliver greater insights These issues, though not creating a major problem today, do make it more challenging for governments and councils to update their security. Changing every camera in a city is a huge undertaking, but in turn, doing so would enable all cameras to be connected to the cloud, and provide more detailed information which can be analysed by smart programming to deliver greater insights. The physical technologies that are currently present in most urban areas lack the intelligent connectivity, interoperability and integration interfaces that smart cities need. Adopting digital technologies isn’t a luxury, but a necessity. Smart surveillance systems It enables teams to gather data from multiple sources throughout the city in real-time, and be alerted to incidents as soon as they occur. Increased connectivity and collaboration ensures that all teams that need to be aware of a situation are informed instantly. For example, a smart surveillance system can identify when a road accident has occurred. It can not only alert the nearest ambulance to attend the scene, but also the local police force to dispatch officers. An advanced system that can implement road diversions could also close roads around the incident immediately and divert traffic to other routes, keeping everyone moving and avoiding a build-up of vehicles. This is just one example: without digital systems, analysing patterns of vehicle movements to address congestion issues could be compromised, as would the ability to build real-time crime maps and deploy data analytics which make predictive policing and more effective crowd management possible. Cloud-based technologies Cloud-based technologies provide the interoperability, scalability and automation Cloud-based technologies provide the interoperability, scalability and automation that is needed to overcome the limitations of traditional security systems. Using these, smart cities can develop a fully open systems architecture that delivers interoperation with both local and other remote open systems. The intelligence of cloud systems can not only continue to allow for greater insights as technology develops over time, but it can do so with minimal additional infrastructure investment. Smart surveillance in the real world Mexico City has a population of almost 9 million people, but if you include the whole metropolitan area, this number rises sharply to over 21 million in total, making it one of the largest cities on the planet. Seven years ago, the city first introduced its Safe City initiative, and ever since has been developing newer and smarter ways to keep its citizens safe. In particular, its cloud-based security initiative is making a huge impact. Over the past three years, Mexico City has installed 58,000 new video surveillance cameras throughout the city, in public spaces and on transport, all of which are connected to the City’s C5 (Command, Control, Computers, Communications and Citizen Contact) facility. Smart Cities operations The solution enables officers as well as the general public to upload videos via a mobile app to share information quickly, fixed, body-worn and vehicle cameras can also be integrated to provide exceptional insight into the city’s operations. The cloud-based platform can easily be upgraded to include the latest technology innovations such as licence plate reading, behavioural analysis software, video analytics and facial recognition software, which will all continue to bring down crime rates and boost response times to incidents. The right cloud approach Making the shift to cloud-based systems enables smart cities to eliminate dependence on fibre-optic connectivity and take advantage of a variety of Internet and wireless connectivity options that can significantly reduce application and communication infrastructure costs. Smart cities need to be effective in years to come, not just in the present day, or else officials have missed one of the key aspects of a truly smart city. System designers must build technology foundations now that can be easily adapted in the future to support new infrastructure as it becomes available. Open system architecture An open system architecture will also be vital for smart cities to enhance their operations For example, this could include opting for a true cloud application that can support cloud-managed local devices and automate their management. An open system architecture will also be vital for smart cities to enhance their operations and deliver additional value-add services to citizens as greater capabilities become possible in the years to come. The advances today in cloud and IoT technologies are rapid, and city officials and authorities have more options now to develop their smart cities than ever before and crucially, to use these innovations to improve public safety. New safety features Though implementing these cloud-based systems now requires investment, as new safety features are designed, there will be lower costs and challenges associated with introducing these because the basic infrastructure will already exist. Whether that’s gunshot detection or enabling the sharing of video infrastructure and data across multiple agencies in real time, smart video surveillance on cloud-based systems can bring a wealth of the new opportunities.

Biometrics provides industries with security, access control, and data protection
Biometrics provides industries with security, access control, and data protection

Several major players vigorously employ biometric recognition technologies around the globe. Governments use biometrics to control immigration, security, and create national databases of biometric profiles. Being one of the most striking examples, the Indian Aadhaar includes face photos, iris, and fingerprints of about 1.2 billion people. Financial institutions, on their part, make use of biometrics to protect transactions by confirming a client's identity, as well as develop and provide services without clients visiting the office. Besides, biometric technology ensures security and optimises passenger traffic at transport facilities and collects data about customers, and investigates theft and other incidents in retail stores. Widespread use of biometrics Business, which suddenly boosted the development of biometrics, is an active user of biometric technology Business, which suddenly boosted the development of biometrics, is another active user of biometric technology. Industries choose biometric systems, as these systems are impossible to trick in terms of security, access control, and data protection. Being in demand in business, these three tasks are also relevant for the industry. However, the use of biometrics at industrial sites is discussed unfairly seldom. Therefore, it is the face identification that is the most convenient there, as workers often use gloves, or their hands may be contaminated, and the palm pattern is distorted by heavy labour. All these features make it difficult to recognise people by fingerprints or veins and significantly reduce identification reliability. Therefore, industries seek facial recognition solutions. Thus, let us demonstrate the application of face recognition technology at different enterprises, regardless of the area. Facial recognition use in incident management Facial biometric products are known to automate and improve the efficiency of security services by enriching any VMS system. These systems provide an opportunity of instantly informing the operator about recognised or unrecognised people, and their list membership, as well as save all the detected images for further security incident investigation. Furthermore, some sophisticated facial biometric systems even provide an opportunity to build a map of the movements of specific people around a site. Besides, it is relevant not only for conducting investigations but also in countering the spread of the COVID-19 virus. Identifying and tracking COVID-19 positive cases Therefore, if an employee or visitor with a positive COVID-19 test enters a facility, the system will help to track his/her movement and identify his/her specific location. It will also help to take the necessary measures for spot sanitary processing. Thus, the introduction of biometric facial recognition at the industrial enterprise can improve and speed up the incidents’ response and investigations without spending hours watching the video archive. Access control system to secure physical assets The right access control system can help industries secure physical and informational assets The right access control system can help industries secure physical and informational assets, cut personnel costs, and keep employees safe. Facial recognition systems may enrich access control systems of any company by providing more security. As biometric characteristics, by which the system assesses the compliance of a person with the available profiles in the database, cannot be faked or passed. The human factor is also reduced to zero, due to the fact that while identity documents can be changed, the inspector can make a mistake or treat his/her task carelessly, be in collusion with an intruder, the biometric system simply compares a person in front of the camera with the biometric profiles database. Biometric facial identification software For example, RecFaces product Id-Gate, a specialised software product for reliable access control to the site, checks the access rights by using biometric facial identification alone or in conjunction with traditional IDs (electronic passes, access keys, etc.), which means that there is almost a zero probability of passing to the site by someone else's ID. The access control system’s functionality allows one to strictly account the number and time of all the facility’s visitors and also track their movement. When unauthorised access is attempted or a person from the stop list is detected, Id-Gate sends an automatic notification to the access control system and operator. Enhanced data and information security Even despite the division of access to different industrial enterprise areas, the security service needs to provide independent information system security. Employees with the same facility access rights may have different access rights to data. However, in that case, a personal password is not enough, as an employee may forget it, write it down and leave it as a reminder, tell a colleague to do something for him/her during the vacation, or just enter it at another person’s presence. Password-free biometric authentication systems make the procedure user-friendly and secure Password-free biometric authentication Password-free biometric authentication systems make the procedure user-friendly and secure. Such systems usually provide an option of two-step verification when successful password entry is additionally confirmed by biometric recognition. Hence, it is particularly relevant due to the current lockdown in many countries. To sum up, the application of biometric technologies solves several issues of the industry, such as: Optimises and partially automates the work of the security service, as it provides reliable identification and verification of visitors/employees, reduces the amount of time spent on finding a person on video and making a map of his/her movements, without spending hours on watching video archive in case of investigation. Provides a high level of reliability and protection from unauthorised access to the enterprise and the information system. Provides a two-step verification of the user/visitor (including password and biometric data) and almost eliminates the risk of substitution of user data/ID.

Latest FLIR Systems news

FLIR launches Quasar premium mini-dome and Quasar premium bullet cameras with advanced cybersecurity features
FLIR launches Quasar premium mini-dome and Quasar premium bullet cameras with advanced cybersecurity features

FLIR Systems announces the availability of two premium visible-camera options as part of its full lineup of Quasar™ security cameras. Designed for use in demanding indoor and outdoor environments, the new FLIR Quasar Premium Mini-dome and Quasar Premium bullet deliver the forensic image quality, tight integration, and advanced cybersecurity features required for critical infrastructure sites, remote facilities, or large areas requiring close monitoring. The new Quasar Premium lineup offers the highest quality video surveillance in the product family, delivering optimal performance for forensic review. Extended range performance The FLIR Quasar Premium Mini-dome is available with 5MP HD or 4K Ultra-HD resolutions and the FLIR Quasar Premium bullet series is available with 4MP Quad HD and 4K Ultra-HD resolutions, coupled with a variety of lens options for extended range performance for perimeter security. Both cameras have an SD-card for on-edge recording and redundancy, while also meeting the H.265 video compression standard to minimise network bandwidth and storage space. The versatile FLIR Quasar Premium Mini-dome series is IP66 rated for dust and waterproof protection and can be ceiling- or wall-mounted in minutes. In no-light conditions, the unit can provide up to 40 meters of visibility via on-board near-infrared illumination. Improved three-shutter wide dynamic range (WDR) (130db) offers optimal light balance in scenarios with both light and dark spots. Additional cybersecurity enhancements The FLIR Quasar™ Premium bullet series is also IK10 vandal-proof and designed to be permanently installed The camera has an IK10 vandal-proof rating and is available with an optional smoke bubble accessory used to obscure camera position. The FLIR Quasar™ Premium bullet series is also IK10 vandal-proof and designed to be permanently installed, typically pole-mounted, for video surveillance. It covers up to 60 meters of visibility via on-board near-infrared Illumination and also features three-shutter WDR (130db). The camera is IP67 rated for dustproof and waterproof protection while offering an extended operating temperature range from -40 degrees Celsius to 60 degrees Celsius (-40 degrees to 140 degrees Fahrenheit) for use in extreme conditions. Similar to other Quasar products, the Quasar Premium bullet, and Premium Dome editions are National Defence Authorisation Act (NDAA)-compliant and include industry-standard security protocols and additional cybersecurity enhancements. Reduced bandwidth issues These features include unique protection from log-in attacks, hardware and software authentication, and encrypted communication to help keep facilities safe from cyber threats. They maintain open platform compatibility and can be used with a large variety of third-party VMS solutions or FLIR United VMS. They also include bi-directional audio and operator control of input/output devices for remote monitoring and responding to events. To further lower the cost of ownership and ease of installation, the cameras include the FLIR accessory and mounting ecosystem. The cameras support the 1G network for better streaming and reduced bandwidth issues. Both cameras also include customised video flow options for live and recorded video, including frames-per-second output adjustment and encoding for extra streams. The Quasar Premium bullet and Premium Dome editions are available for purchase globally from FLIR or authorised distributors.

FLIR highlights the applications of thermal technology in security, safety, and equipment protection
FLIR highlights the applications of thermal technology in security, safety, and equipment protection

The Insights from the Field series features insight from FLIR experts who recommend, deploy, and use thermal imaging technology every day. FLIR discusses the diverse applications of thermal technology in security, safety, and equipment protection for critical infrastructure. Epidemics and pandemics can leave large enterprises that employ and receive thousands of people vulnerable to widespread infection and business interruptions. Without the right entry protocols in place, an employee who has symptoms of an infectious disease, such as a fever, could enter a facility and put the entire workforce at risk of exposure. Skin temperature screening Elevated Skin Temperature Screening Major businesses are ramping up their workforce safety best practices by deploying FLIR thermal cameras for elevated skin temperature measurement. Registered with the U.S. Food and Drug Administration (FDA), these non-contact thermal cameras measure skin surface temperature at the inner canthus (or corner of a person's eye). FLIR thermal cameras that are engineered for elevated skin temperature screening can achieve accuracies of ±0.3°C FLIR thermal cameras that are engineered for elevated skin temperature screening can achieve accuracies of ±0.3°C (0.5°F) over a temperature measurement range of 15°C to 45°C (59°F to 113°F). This aligns with the U.S. FDA Guidance for Industry and Food and Drug Administration Staff as well as with ISO/TR 13154 specification. FLIR provides an array of cameras for elevated skin temperature screening in multiple form factors—including handheld, tripod mounted, or fixed-mounted—optimised for a variety of application needs. Measuring body temperature Infrared thermography can detect elevated skin temperatures, which may indicate the presence of a fever. When followed by a screening with a medical device designed specifically for measuring body temperature, such as a thermometer, the use of an infrared camera as an adjunctive diagnostic tool may help contain or limit the spread of viral diseases such as bird flu, swine flu, or COVID-19. In the wake of COVID-19, businesses across the critical infrastructure market rapidly adopted thermal cameras for elevated skin temperature screening. In the utilities sector, the Office of Cybersecurity, Energy Security and Emergency Response notes how energy utilities are updating their entry protocols in response to COVID-19. Practices now include wellness questionnaires to check for symptoms as well as temperature checks conducted through tools such as thermal cameras. Screening all patients GM deployed 377 FLIR thermal cameras across 72 sites to help limit the spread of COVID-19 General Motors (GM) is one of the manufacturers of motor vehicles, has over 85,000 employees in the United States, and has some plants that employ 1,000 people in a given shift. In May 2020, GM deployed 377 FLIR thermal cameras across 72 sites to help limit the spread of COVID-19. Healthcare facilities are also installing FLIR solutions; for example, the VA Medical Center in Manchester, New Hampshire deployed FLIR thermal cameras to screen all patients and staff for elevated skin temperature prior to them entering the building. In the transportation sector, Emirates airlines deployed FLIR thermal cameras at departure gates for all U.S. gateways beginning in March 2020. Guests travelling on U.S. bound flights out of the Dubai International Airport are screened for elevated skin temperature. Radiometric thermal cameras As more critical infrastructure organisations deploy thermal cameras for elevated skin temperature screening, they will likely prompt greater long-term adoption and integration of radiometric thermal cameras into the overall security and safety solution. Here’s why. While temperature screening of employees and guests often falls under the purview of Environmental Health and Safety or Occupational Health and Safety teams, not every business has a dedicated EHS or OHS staff. As a result, many organisations are tasking their security teams to vet and implement screening solutions. Security officers as well as security equipment, such as surveillance cameras and metal detectors, are already in place at key entry points in a facility. As a result, many security officers must play a dual role as the frontline personnel required to use handheld or tripod mounted thermal cameras to conduct elevated skin temperature screening. Video surveillance solutions It’s important to use a high-resolution thermal camera for elevated skin temperature screening Adding a thermal camera for elevated skin temperature screening is a logical addition to existing video surveillance solutions. As critical infrastructure businesses shift their attention toward the long-term implementation of thermal cameras for elevated skin temperature screening, there are multiple deployment practices to consider. Here are the a few recommendations from FLIR’s team of experts. Choose a Certified Camera – To ensure optimal reliability and deployment success, choose a thermal camera specifically designed for elevated skin temperature screening with a 510(k) filing (K033967) with the U.S. Food and Drug Administration. When looking to integrate this thermal camera into an existing video management system, make sure the camera is ONVIF-compliant. Other screening standards should be considered including ISO/TR 13154:2017 and IEC 80601-2-59:2017. Select a Camera with High Resolution – It’s important to use a high-resolution thermal camera for elevated skin temperature screening so one can capture the right pixels to yield accurate readings. Delivering consistent measurements Ensure Proper Distance for Screening – Distance matters. Make sure the camera is placed at the manufacturer’s recommended distance away from the individual so the camera can focus. Ensure the camera is stabilised so that the camera will deliver consistent measurements. Place a neutral backdrop a few feet behind the location where the person will be screened, and only screen one person at a time to identify temperature anomalies. It is more susceptible to environmental interferences and more likely to generate measurement errors Measure the Right Spot – While the forehead is easier to quickly screen, it is more susceptible to environmental interferences and more likely to generate measurement errors. Research has shown that the corner of the eye—the region medially adjacent to the inner canthus—provides a more accurate estimate of core body temperature than other areas of skin. Specific skin temperature This is because skin at the canthi is thin (decreasing insulating effects), is less exposed to environmental factors, and is directly over major arteries which increase blood flow and heat transfer. Set an Alarm Threshold – For FLIR cameras with a Screen-EST™ mode, set an alarm upon detection of a specific skin temperature compared against a sample average of temperature value. Because skin temperature can vary multiple degrees throughout the day based on the environment and other factors, FLIR Screen-EST mode gathers temperatures from several individuals to determine an average that can be updated throughout the screening operation. This is a defining feature and capability for the FLIR cameras for elevated skin temperature screening.

Teledyne Technologies Incorporated and FLIR Systems announce their agreement for FLIR’s acquisition through a cash and stock transaction
Teledyne Technologies Incorporated and FLIR Systems announce their agreement for FLIR’s acquisition through a cash and stock transaction

Teledyne Technologies Incorporated (“Teledyne”) and FLIR Systems, Inc. (“FLIR”) jointly announced that they have entered into a definitive agreement under which Teledyne will acquire FLIR in a cash and stock transaction valued at approximately $8.0 billion. “FLIR’s commitment to innovation spanning multiple sensing technologies has allowed our company to grow into the multi-billion-dollar company it is today”. Permanent financing Under the terms of the agreement, FLIR stockholders will receive $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share, which implies a total purchase price of $56.00 per FLIR share based on Teledyne’s 5-day volume weighted average price. The transaction reflects a 40% premium for FLIR stockholders based on FLIR’s 30-day volume weighted average price. Net leverage at closing is expected to be 4.0x adjusted pro forma EBITDA with leverage declining to less than 3.0x As part of the transaction, Teledyne has arranged a $4.5 billion 364-day credit commitment to fund the transaction and refinance certain existing debt. Teledyne expects to fund the transaction with permanent financing prior to closing. Net leverage at closing is expected to be approximately 4.0x adjusted pro forma EBITDA with leverage declining to less than 3.0x. Different semiconductor technologies Teledyne expects the acquisition to be immediately accretive to earnings, excluding transaction costs and intangible asset amortisation, and accretive to GAAP earnings in the first full calendar year following the acquisition. “At the core of both our companies is proprietary sensor technologies. Our business models are also similar: we each provide sensors, cameras and sensor systems to our customers. However, our technologies and products are uniquely complementary with minimal overlap, having imaging sensors based on different semiconductor technologies for different wavelengths,” said Robert Mehrabian, Executive Chairman of Teledyne. Multiple sensing technologies “For two decades, Teledyne has demonstrated its ability to compound earnings and cash flow consistently and predictably. Together with FLIR and an optimised capital structure, I am confident we shall continue delivering superior returns to our stockholders.” We could not be more excited to join forces with Teledyne through this value-creating transaction" “FLIR’s commitment to innovation spanning multiple sensing technologies has allowed our company to grow into the multi-billion-dollar company it is today,” said Earl Lewis, Chairman of FLIR. “With our new partner’s platform of complementary technologies, we will be able to continue this trajectory, providing our employees, customers and stockholders even more exciting momentum for growth. Our Board fully supports this transaction, which delivers immediate value and the opportunity to participate in the upside potential of the combined company.” Global customer base Jim Cannon, President and Chief Executive Officer of FLIR, said, “We could not be more excited to join forces with Teledyne through this value-creating transaction. Together, we will offer a uniquely complementary end-to-end portfolio of sensory technologies for all key domains and applications across a well-balanced, global customer base." "We are pleased to be partnering with an organisation that shares our focus on continuous innovation and operational excellence, and we look forward to working closely with the Teledyne team as we bring our two companies together to capitalise on the important opportunities ahead.” Approvals and timing Teledyne announced improved preliminary financial results for the fourth quarter and full year 2020 In a separate press release issued, Teledyne announced improved preliminary financial results for the fourth quarter and full year 2020. The Teledyne press release is available on the company’s official website. FLIR noted that it expects to meet or exceed the full year fiscal 2020 guidance it provided on October 30, 2020. The transaction, which has been approved by the boards of directors of both companies, is expected to close in the middle of 2021 subject to the receipt of required regulatory approvals, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, approvals of Teledyne and FLIR stockholders and other customary closing conditions. Conference call and webcast Evercore is acting as exclusive financial advisor and McGuireWoods LLP is acting as legal advisor to Teledyne in connection with the transaction. Goldman Sachs & Co. LLC is acting as exclusive financial advisor and Hogan Lovells US LLP is acting as legal advisor to FLIR in connection with the transaction. Teledyne has entered into a 364-day senior unsecured bridge facility credit agreement with Bank of America as sole lead arranger and administrative agent. Teledyne and FLIR will host a conference call to discuss the acquisition. A live webcast of the call can be accessed at Teledyne’s website. One can connect to the website at least 15 minutes prior to the start of the call to allow adequate time for any software download that may be required. A replay will be available on the company’s website approximately three hours after the call and will be available for approximately one month.

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