Waltham, Mass., Nov. 2 -- Extech Instruments, a supplier of test and measurement equipment and portable receipt printers with distribution in over 90 countries, has announced that the companys president and owner, Jerry Blakeley, has entered into an agreement in which the stock of Extech will be acquired by FLIR Systems Inc. FLIR designs, manufactures and markets thermal imaging and stabilized camera systems. The transaction, which is subject to standard closing conditions, is expected to be completed within the fourth quarter.
This is an exciting opportunity for Extech, our customers, our distributors, and our employees, said Blakeley. This acquisition will create new opportunities in distribution, product development and branding, which will extend and strengthen Extechs position in competitive markets.
With this acquisition, Extechs product portfolio will increase, bringing the addition of thermal imagers and Infrared (IR) cameras to the companys 15 current product categories. Extech has made extensive use of IR technology for both measurement and communication. Extech holds five patents incorporating IR into measurement instruments and was the first company to introduce a portable printer with IrDA wireless communication.
Blakeley continued, I look forward with vigor to enhancing and improving not only our product line, but also the service we provide our customers. The Extech brand will certainly be stronger as a result of this acquisition.