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|Monday, August 16, 2010|
Wilsonville-based FLIR Systems announced this morning an agreement to acquire ICx Technologies for $274 million. FLIR, maker of thermal imaging and camera system products, will pay $7.55 per share for the detection and surveillance company based in Arlington, VA.
ICx is one of the leading providers of sensor technologies for homeland security with reported revenue of approximately $168 million. With the acquisition FLIR will expand its business to include sensors for chemical, biological, radiological, nuclear, and explosives detection for defense and homeland security markets.
Under terms of the agreement ICx can consider competing bids.
"[ICx] has developed and is developing advanced sensors that gives us a very big portfolio of additional sensors to add to ours,” said president and CEO Earl Lewis, during a recorded press conference this morning. “It’s a complete suite of technology, and not trying to develop it ourselves is very worth the asking price.”
Lewis said ICx has done a terrific job in cultivating the government as a customer in order to harness research and development funds in a way that FLIR hasn’t. He hopes that this acquisition will allow FLIR to learn from ICx and also expand its existing intelligence surveillance and radar technologies. The transaction is expected to close in the fourth quarter and upon completion ICx's operations will be integrated into FLIR's Government Systems Division.
FLIR’S government division has seen impressive growth in the last two months. In July a $5.4 million order was placed by U.S. Customers and Border Protection in addition to a $14.1 million order from STARA Technologies for infrared cameras to be used in Afghanistan. FLIR gets approximately 35% of its total revenue from government contracts.
Although government business has grown for FLIR, approximately 22% over the last five years according to Lewis, he expects the commercial side of the business to be more profitable in the long-run. He expects to see this sensor technology eventually used in various sensor systems for commercial vehicles and other products.
ICx also reported lower than expected quarterly results this morning with second-quarter revenue down $36 million compared to $45 million in 2009.
Jessica Hoch is an online reporter for Oregon Business.
Wednesday, October 22, 2014
BY LINDA BAKER
Tamara Lundgren tackles the challenges—without getting trampled.
Thursday, December 11, 2014
There’s a fascinating article in the December issue of the Harvard Business Review about a profound power shift taking place in business and society. It’s a long read, but the gist revolves around the tension between “old power” and “new power” as a driver of transformation. Here’s an excerpt:
The authors, Henry Timms and Jeremy Heimans, don’t necessarily favor one form of power over another but merely outline how power is transitioning, and how companies can take advantage of these changes to strengthen their positions in the marketplace.
Our Powerbook issue might be viewed as a case study in the new-power transition. This annual book of lists provides information on leading businesses, nonprofits and universities in the state. Most of the featured companies are entrenched power players now pursuing more flexible and less hierarchical approaches to doing business. Law firms, for example, are adopting new technologies and fee structures to make legal services more accessible and affordable.
This month we also take a look at a controversial new U.S. Securities and Exchange Commission rule requiring public companies to disclose the median pay of workers, as well as the ratio between CEO and median-worker pay.
Part of the 2010 Dodd-Frank financial reform law, the rule will compel public companies to be more open about employee compensation, with the assumption that greater transparency will improve corporate performance and, perhaps, help address one of the major challenges of our time: income inequality.
New power is not only about strategy and tactics, the Harvard Business Review authors say. “The ultimate questions are ethical. The big question is whether new power can genuinely serve the common good and confront society’s most intractable problems.”
That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!
Wednesday, October 22, 2014
BY AMY MILSHTEIN
Meetings get a bad rap. A few local companies make them count.
Thursday, December 04, 2014
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Nothing says startup culture like a ping pong table in the office, lounge or lobby.
Friday, October 24, 2014
A majority of respondents agreed: Local vineyards should remain Oregon-owned and quality is the most important factor when determining where to eat or buy groceries.
Wednesday, November 26, 2014
BY NISHANT BHAJARIA | OP-ED CONTRIBUTOR
By now, anyone who knows about it has a position on President Obama’s executive order on immigration. The executive order is the outcome of failed attempts at getting a bill through the normal legislative process. Both Obama and his predecessor came close, but not close enough since the process broke down multiple times.
Saturday, December 13, 2014
Seven tidbits about the president and CEO of AKT Group.
|A Complex Portrait: Immigration, Jobs and the Economy|
|Woman of Steel|
|Kill the Meeting|
|Obama to announce end of Cuba isolation|
|Energy prices drop cost of living in US by most since 2008|
|Russia's attempt to slow ruble freefall fails|
|AAA: Holiday travel could set record this year|
|Sub-$2 gas prevalent across US|
|Group buys PetSmart for $8.3B|
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Is your business ready to join us in the call for action? This opening panel includes Oregon businesses who will discuss why they signed the Oregon Climate Declaration, the investments they are making to reduce carbon emissions, and how their actions are affecting their companies.
Get ready for two days of special events produced with the EPA, Portland Timbers and ISOS before and after the GoGreen Conference on October 16.
How sports tourism is driving economic growth and making cities across Oregon a better place to live.
Port of Morrow's business-ready attitude has a surprising global impact.
Through its support of the arts, the Cultural Trust is strengthening the business community.
Heed the morals of these seminal holiday stories in your everyday life.
Amy will practice in the firm's Business, Real Estate, and Tax practice groups.
While the Bend City Council ultimately upheld the approval which enables OSU-Cascades to move forward with the 10 acre site, it did also thoughtfully consider the nature of its code requirements, resident concerns and OSU-Cascade’s efforts and suggestions and crafted conditions of approval to address potential impacts of the site in the area.