Deal with UAS Pioneer, Formerly CyPhy Works, Includes Intellectual Property, Multiple Patents
ARLINGTON, Va.-Thursday 3 October 2019 [ AETOS Wire ]
(BUSINESS WIRE)-- 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.”
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.
Forward Looking Statements
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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191002005174/en/
Contacts
Media Contact:
Joe Ailinger, Jr.
FLIR Systems, Inc.
Phone: 978-769-9339
Email: joe.ailinger@flir.com
Investor Relations:
Lasse Glassen
Addo Investor Relations
Phone: 424-238-6249
Email: lglassen@addoir.com
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