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Securing mobile vehicles: The cloud and solving transportation industry challenges
Securing mobile vehicles: The cloud and solving transportation industry challenges

Securing Intelligent Transportation Systems (ITS) in the transportation industry is multi-faceted for a multitude of reasons. Pressures build for transit industry players to modernise their security systems, while also mitigating the vulnerabilities, risks, and growth-restrictions associated with proprietary as well as integrated solutions. There are the usual physical security obstacles when it comes to increasingly integrated solutions and retrofitting updated technologies into legacy systems. Starting with edge devices like cameras and intelligent sensors acquiring video, analytics and beyond, these edge devices are now found in almost all public transportation like buses, trains, subways, airplanes, cruise lines, and so much more. You can even find them in the world’s last manually operated cable car systems in San Francisco. The next layer to consider is the infrastructure and networks that support these edge devices and connect them to centralized monitoring stations or a VMS. Without this layer, all efforts at the edge or stations are in vain as you lose the connection between the two. And the final layer to consider when building a comprehensive transit solution is the software, recording devices, or viewing stations themselves that capture and report the video. The challenge of mobility However, the transportation industry in particular has a very unique challenge that many others do not – mobility. As other industries become more connected and integrated, they don’t usually have to consider going in and out or bouncing between networks as edge devices physically move. Obviously in the nature of transportation, this is key. Have you ever had a bad experience with your cellular, broadband or Wi-Fi at your home or office? You are not alone. The transportation industry in particular has a very unique challenge that many others do not – mobility Can you trust these same environments to record your surveillance video to the Cloud without losing any frames, non-stop 24 hours a day, 7 days a week, 365 days a year? To add to the complexity – how do you not only provide a reliable and secure solution when it’s mobile, travelling at varying speeds, and can be in/out of coverage using various wireless technologies? Waiting to upload video from a transport vehicle when it comes into port, the station, or any centralised location is a reactive approach that simply will not do any longer. Transit operations require a more proactive approach today and the ability to constantly know what is going on at any given time on their mobile vehicles, and escalate that information to headquarters, authorities, or law enforcement if needed; which can only occur with real-time monitoring. This is the ultimate question when it comes to collecting, analysing, and sharing data from mobile vehicles – how to get the video from public transportation vehicles alike to headquarters in real time! Managing video data In order to answer this question, let’s get back to basics. The management and nature of video data differs greatly from conventional (IT) data. Not only is video conducted of large frames, but there are specific and important relationships among the frames and the timing between them. This relationship can easily get lost in translation if not handled properly. This is why it’s critical to consider the proper way to transmit large frames while under unstable or variable networks. The Internet and its protocols were designed more than two decades ago and purposed for conventional data. Although the Internet itself has not changed, today’s network environments run a lot faster, expand to further ranges, and support a variety of different types of data. Because the internet is more reliable and affordable than in the past some might think it can handle anything. However, it is good for data, but not for video. This combination makes it the perfect time to convert video recording to the Cloud! Video transmission protocol One of the main issues with today’s technology is the degradation of video quality when transmitting video over the Internet. ITS are in dire need for reliable transmission of real-time video recording. To address this need a radical, yet proven, video transmission protocol has recently been introduced to the market. It uses AI technology and to adapt to different environments in order to always deliver high quality, complete video frames. This protocol, when equipped with encryption and authentication, enables video to be transmitted reliably and securely over the Internet in a cloud environment. One of the main issues with today’s technology is the degradation of video quality when transmitting video over the Internet Finally, transportation industry has a video recording Cloud solution that is designed for (massive) video that can handle networks that might be experiencing high error rate. Such a protocol will not only answer the current challenges of the transportation industry, but also make the previously risky Cloud environment safe for even the most reserved environments and entities. With revolutionary transmission protocols, the time is now to consider adopting private Cloud for your transportation operations.

The digital transformation of access control solutions
The digital transformation of access control solutions

The safeguarding of premises through the monitoring of entrance and exit points has traditionally been a very manual aspect of security. Human operators have been relied on to make decisions about who to admit and deny based on levels of authorisation and the appropriate credentials. But the access control business, like many industries before it, is undergoing its own digital transformation; one where the protection of premises, assets and people is increasingly delivered by interconnected systems utilising IoT devices and cloud infrastructure to offer greater levels of security and protection. Modern access control solutions range from simple card readers to two factor authentication systems using video surveillance as a secondary means of identification, right through to complex networks of thermal cameras, audio speakers and sensors. These systems, connected through the cloud, can be customised and scaled to meet the precise requirements of today’s customer. And it’s the ease of cloud integration, combined with open technologies and platforms that is encouraging increasing collaboration and exciting developments while rendering legacy systems largely unfit for purpose. Remote management and advanced diagnostics Cloud technology and IoT connectivity means remote management and advanced diagnostics form an integral part of every security solution.Cloud technology and IoT connectivity means remote management and advanced diagnostics form an integral part of every security solution. For example, as the world faces an unprecedented challenge and the COVID-19 pandemic continues to cause disruption, the ability to monitor and manage access to sites remotely is a welcome advantage for security teams who might otherwise have to check premises in person and risk breaking social distancing regulations. The benefits of not physically having to be on site extend to the locations within which these technologies can be utilised. As an example, within a critical infrastructure energy project, access can be granted remotely for maintenance on hard to reach locations. Advanced diagnostics can also play a part in such a scenario. When access control is integrated with video surveillance and IP audio, real-time monitoring of access points can identify possible trespassers with automated audio messages used to deter illegal access and making any dangers clear. And with video surveillance in the mix, high quality footage can be provided to authorities with real-time evidence of a crime in progress. Comprehensive protection in retail Within the retail industry, autonomous, cashier-less stores are already growing in popularity The use of connected technologies for advanced protection extends to many forward-looking applications. Within the retail industry, autonomous, cashier-less stores are already growing in popularity. Customers are able to use mobile technology to self-scan their chosen products and make payments, all from using a dedicated app. From an access control and security perspective, connected doors can be controlled to protect staff and monitor shopper movement. Remote management includes tasks such as rolling out firmware updates or restarting door controllers, with push notifications sent immediately to security personnel in the event of a breach or a door left open. Remote monitoring access control in storage In the storage facility space, this too can now be entirely run through the cloud with remote monitoring of access control and surveillance providing a secure and streamlined service. There is much to gain from automating the customer journey, where storage lockers are selected online and, following payment, customers are granted access. Through an app the customer can share their access with others, check event logs, and activate notifications. With traditional padlocks the sharing of access is not as practical, and it’s not easy for managers to keep a record of storage locker access. Online doors and locks enable monitoring capabilities and heightened security for both operators and customers. The elimination of manual tasks, in both scenarios, represents cost savings. When doors are connected to the cloud, their geographical location is rendered largely irrelevant. Online doors and locks enable monitoring capabilities and heightened security for both operators and customers They become IoT devices which are fully integrated and remotely programmable from anywhere, at any time. This creates a powerful advantage for the managers of these environments, making it possible to report on the status of a whole chain of stores, or to monitor access to numerous storage facilities, using the intelligence that the technology provides from the data it collects. Open platforms power continuous innovation All of these examples rely on open technology to make it possible, allowing developers and technology providers to avoid the pitfalls that come with the use of proprietary systems. The limitations of such systems have meant that the ideas, designs and concepts of the few have stifled the creativity and potential of the many, holding back innovation and letting the solutions become tired and their application predictable. Proprietary systems have meant that solution providers have been unable to meet their customers’ requirements until the latest upgrade becomes available or a new solution is rolled out. This use of open technology enables a system that allows for collaboration, the sharing of ideas and for the creation of partnerships to produce ground-breaking new applications of technology. Open systems demonstrate a confidence in a vendor’s own solutions and a willingness to share and encourage others to innovate and to facilitate joint learning. An example of the dynamic use of open technology is Axis’ physical access control hardware, which enables partners to develop their own cloud-based software for control and analysis of access points, all the while building and expanding on Axis’ technology platform. Modern access control solutions range from simple card readers to two factor authentication systems using video surveillance as a secondary means of identification Opportunities for growth Open hardware, systems and platforms create opportunities for smaller and younger companies to participate and compete, giving them a good starting point, and some leverage within the industry when building and improving upon existing, proven technologies. This is important for the evolution and continual relevance of the physical security industry in a digitally enabled world. Through increased collaboration across technology platforms, and utilising the full range of possibilities afforded by the cloud environment, the manufacturers, vendors and installers of today’s IP enabled access control systems can continue to create smart solutions to meet the ever-changing demands and requirements of their customers across industry.

Cybersecurity: what we can do as an industry
Cybersecurity: what we can do as an industry

In 2017, IoT-based cyberattacks increased by 600%. As the industry moves towards the mass adoption of interconnected physical security devices, end users have found a plethora of advantages, broadening the scope of traditional video surveillance solutions beyond simple safety measures. Thanks in part to these recent advancements, our physical solutions are at a higher risk than ever before. With today’s ever evolving digital landscape and the increasing complexity of physical and cyber-attacks, it’s imperative to take specific precautions to combat these threats. Video surveillance systems Cybersecurity is not usually the first concern to come to mind When you think of a video surveillance system, cybersecurity is not usually the first concern to come to mind, since digital threats are usually thought of as separate from physical security. Unfortunately, these two are becoming increasingly intertwined as intruders continue to use inventive methods in order to access an organisation's assets. Hacks and data breaches are among the top cyber concerns, but many overlook the fact that weak cybersecurity practices can lead to physical danger as well. Organisations that deploy video surveillance devices paired with advanced analytics programs often leave themselves vulnerable to a breach without even realising it. While they may be intelligent, IoT devices are soft targets that cybercriminals and hackers can easily exploit, crippling a physical security system from the inside out. Physical security manufacturers Whether looking to simply gain access to internal data, or paralyse a system prior to a physical attack, allowing hackers easy access to surveillance systems can only end poorly. In order to stay competitive, manufacturers within the security industry are trading in their traditional analogue technology and moving towards interconnected devices. Due to this, security can no longer be solely focused on the physical elements and end users have taken note. The first step towards more secured solutions starts with physical security manufacturers choosing to make cybersecurity a priority for all products, from endpoint to edge and beyond. Gone are the days of end users underestimating the importance of reliability within their solutions. Manufacturers that choose to invest time and research into the development of cyber-hardening will be ahead of the curve and an asset to all. Wireless communication systems Integrators also become complicit in any issues that may arise in the future Aside from simply making the commitment to improve cyber hygiene, there are solid steps that manufacturers can take. One simple action is incorporating tools and features into devices that allow end users to more easily configure their cyber protection settings. Similarly, working with a third party to perform penetration testing on products can help to ensure the backend security of IoT devices. This gives customers peace of mind and manufacturers a competitive edge. While deficient cybersecurity standards can reflect poorly on manufacturers by installing vulnerable devices on a network, integrators also become complicit in any issues that may arise in the future. Just last year, ADT was forced to settle a $16 million class action lawsuit when the company installed an unencrypted wireless communication system that rendered an organisation open to hacks. Cybersecurity services In addition, we’ve all heard of the bans, taxes and tariffs the U.S. government has recently put on certain manufacturers, depending on their country of origin and cybersecurity practices. Lawsuits aside, employing proper cybersecurity standards can give integrators a competitive advantage. With the proliferation of hacks, malware, and ransomware, integrators that can ease their client's cyber-woes are already a step ahead. By choosing to work with cybersecurity-focused manufacturers who provide clients with vulnerability testing and educate end users on best practices, integrators can not only thrive but find new sources of RMR. Education, collaboration and participation are three pillars when tackling cybersecurity from all angles. For dealers and integrators who have yet to add cybersecurity services to their business portfolios, scouting out a strategic IT partner could be the answer. Unlocking countless opportunities Becoming educated on the topic of cybersecurity and its importance for an organisation is the first step Physical security integrators who feel uncomfortable diving headfirst into the digital realm may find that strategically aligning themselves with an IT or cyber firm will unlock countless opportunities. By opening the door to a partnership with an IT-focused firm, integrators receive the benefit of cybersecurity insight on future projects and a new source of RMR through continued consulting with current customers. In exchange, the IT firm gains a new source of clients in an industry otherwise untapped. This is a win for all those involved. While manufacturers, dealers and integrators play a large part in the cybersecurity of physical systems, end users also play a crucial role. Becoming educated on the topic of cybersecurity and its importance for an organisation is the first step. Commonplace cybersecurity standards Below is a list of commonplace cybersecurity standards that all organisations should work to implement for the protection of their own video surveillance solutions: Always keep camera firmware up to date for the latest cyber protections. Change default passwords, especially those of admins, to keep the system locked to outside users. Create different user groups with separate rights to ensure all users have only the permissions they need. Set an encryption key for surveillance recordings to safeguard footage against intruders and prevent hackers from accessing a system through a backdoor. Enable notifications, whether for error codes or storage failures, to keep up to date with all systems happenings. Create/configure an OpenVPN connection for secured remote access. Check the web server log on a regular basis to see who is accessing the system. Ensure that web crawling is forbidden to prevent images or data found on your device from being made searchable. Avoid exposing devices to the internet unless strictly necessary to reduce the risk of attacks.

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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