RICHMOND, BRITISH COLUMBIA — FLIR Systems Inc. has reached a definitive asset purchase agreement to acquire Point Grey Research Inc.

The transaction is expected to be completed in the fourth quarter of 2016, subject to Point Grey shareholder approval, regulatory approvals, and customary closing conditions. Upon completion, Point Grey Research will become "FLIR Integrated Imaging Solutions," operating as a stand-alone entity within FLIR's OEM and Emerging business segment.

FLIR Systems is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. FLIR brings innovative sensing solutions into daily life through thermal imaging systems, visible-light imaging systems, locator systems, measurement and diagnostic systems, and advanced threat detection systems. The company's thermal sensors are able to remotely measure temperature, see through factory obscurants such as smoke and steam, and accurately detect and characterize human activity in retail settings, enabling the combined business to offer an even broader range of innovative solutions to serve complex imaging needs.

There are no immediate changes to Point Grey's business processes, how it handle transactions with you or your company, or client points of contact in the sales and support organization. There are also no planned changes in staff, product offering, suppliers or production locations in the foreseeable future. The company will provide timely updates and advance notice of any changes to our operations as integration efforts progress.

For more information, visit www.flir.com.