Acquisition Solidifies FLIR’s Entry into Unmanned Ground Vehicles
Market for Military, Public Safety, and Critical Infrastructure

WILSONVILLE, Ore.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/military?src=hash” target=”_blank”gt;#militarylt;/agt;–FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has completed
its previously announced acquisition of Endeavor Robotic Holdings, Inc.,
a leading developer of battle-tested, tactical unmanned ground vehicles
(UGVs) for the global military, public safety, and critical
infrastructure markets, from Arlington Capital Partners for $382 million
in cash.

Based outside Boston and formerly known as iRobot Defense & Security,
Endeavor has shipped more than 7,000 UGVs to customers in over 55
countries. Endeavor’s highly-mobile and easy to operate ground robots
utilize advanced sensing and actuation in providing explosive ordnance
disposal, reconnaissance, inspection, and hazardous materials support
for troops, police, and industrial users at stand-off range. Endeavor is
one of the largest UGV providers to the United States (U.S.) Department
of Defense (DoD), and a key supplier of unmanned systems for the
accelerating modernization of global military and law enforcement
operational assets.

“With the addition of Endeavor, FLIR becomes a leading provider of
unmanned aerial and ground solutions to support the needs of
warfighters, and public safety and critical infrastructure
professionals,” said Jim Cannon, President and CEO of FLIR Systems. “We
are pleased to welcome Endeavor to the FLIR team and look forward to
driving our mission to innovate technologies that help save lives and
livelihoods.”

Endeavor is now part of the FLIR Government and Defense Business Unit’s
Unmanned Systems and Integrated Solutions division. The transaction is
expected to be $0.03 dilutive to FLIR Systems’ 2019 adjusted earnings
per share due to borrowing costs associated with funding the
transaction, and accretive thereafter.

About FLIR Systems

Founded in 1978 and headquartered in Wilsonville, Oregon, FLIR
Systems is a world-leading maker of sensor systems that enhance
perception and heighten awareness, helping to save lives, improve
productivity, and protect the environment. Through its nearly 3,900
employees, FLIR Systems’ vision is to be “The World’s Sixth Sense” by
leveraging thermal imaging and adjacent technologies to provide
innovative, intelligent solutions for security and surveillance,
environmental and condition monitoring, outdoor recreation, machine
vision, navigation, and advanced threat detection. For more information,
please visit http://www.flir.com
and follow @flir.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may contain words such as “anticipates,”
“estimates,” “expects,” “intends,” and “believes” and similar words and
expressions and include the assumptions that underlie such statements.
Such statements are based on current expectations, estimates, and
projections based, in part, on potentially inaccurate assumptions made
by management. Forward-looking statements include but are not limited
to: statements about the expected timing and completion of the proposed
acquisition; the anticipated effect of the acquisition; including the
costs associated with the transaction, the impact of financing the
transaction and express and implied benefits from the acquisition; the
benefit of acquired technology and capabilities, plans and expectations
for the acquired entity; the risk that the parties may not be able to
obtain necessary regulatory approvals; risks related to disruption of
management time as a result of the acquisition and other statements not
historical facts. 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. Such forward-looking statements speak only as
of the date on which they are made and FLIR Systems 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
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Contacts

Media Contact
Tim McDowd
503-498-3146
[email protected]

Investor Relations
Jay Gentzkow
503-498-3809
[email protected]