FLIR Systems acquires VC-backed Aeryon Labs for $266 mln

FLIR Systems Inc (Nasdaq: FLIR) has acquired Aeryon Labs Inc, a Waterloo-based developer of unmanned aerial systems (UAS) for the military, public safety and critical infrastructure markets. FLIR, a Wilsonville, Oregon-based maker of sensor systems, paid about $266 million (US$200 million). Founded in 2007 by Dave Kroetsch, Steffen Lindner and Mike Peasgood, Aeryon's technology is deployed by 20 military forces in more than 30 countries. FLIR said the deal expands its UAS capabilities with advanced airframes, sensors and flight management software. Aeryon's investors have included MaRS Investment Accelerator Fund and Summit Partners. Summit invested $60 million in the company in 2015.