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FLIR Acquires Tethered Drone Assets and Technology from Aria Insights
Deal with UAS Pioneer, Formerly CyPhy Works, Includes Intellectual Property, Multiple Patents
ARLINGTON, Va., October 2, 2019 ― FLIR Systems, Inc. (NASDAQ: FLIR) announced that it has acquired the intellectual property (IP) and certain operating assets of Aria Insights, Inc. Terms of the deal are not being disclosed.
Previously known as CyPhy Works, Inc., Aria pioneered the development of tethered small unmanned aerial systems (sUAS). Founded in 2008 by iRobot co-founder Helen Greiner and backed by several top technology investors, Aria notably developed the Persistent Aerial Reconnaissance and Communications (PARC) tethered drone. The company ceased operations in March 2019.
Tethered drones connect to a base station or vehicle by microfilament wire, which provides both continuous power and secure communications. For certain applications, a tethered drone offers advantages over a free-flying UAS, enabling sustained operations on longer missions and persistent situational awareness so users can perform intelligence, surveillance, and reconnaissance (ISR) functions.
The Aria assets will be integrated into FLIR's Unmanned Systems and Integrated Solutions Division, augmenting the company's industry-leading technology portfolio built from its acquisitions of Prox Dynamics in 2016 and Aeryon Labs and Endeavor Robotics earlier this year.
"Tethered UAS systems are becoming an increasingly valuable tool for force protection, border security, and critical infrastructure protection," said David Ray, president of FLIR's Government and Defense business. "Aria's innovative technology and IP assets will enable us to enhance current capabilities and advance the range of solutions we can deliver to customers in this growing market segment."
"We're pleased to complete the sale of our assets to FLIR Systems," said Lance Vandenbrook, former CEO of Aria Insights. "We are proud of the technology our team developed through the operations of CyPhy Works and Aria, and we believe FLIR offers the best opportunity to see it make a difference and support critical missions in the years ahead."
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About FLIR Systems, Inc.
Founded in 1978, FLIR Systems is a world-leading industrial technology company focused on intelligent sensing solutions for defense, industrial, and commercial applications. FLIR Systems' vision is to be "The World's Sixth Sense," creating technologies to help professionals make more informed decisions that save lives and livelihoods. For more information, please visit www.flir.com and follow @flir.
The statements in this release by David Ray and the other statements in this release about the contract and order described above are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates, and projections about FLIR's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: the ability to manufacture and deliver the systems referenced in this release, changes in pricing of FLIR's products, changing demand for FLIR's products, product mix, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, the ability of FLIR to manufacture and ship products in a timely manner, FLIR's continuing compliance with U.S. export control laws and regulations, and other risks discussed from time to time in FLIR's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and FLIR does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release, or for changes made to this document by wire services or Internet service providers.
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