Following the announcement on Friday that Raymarine PLC had been placed into administration, the marine electronics company has now been bought by FLIR Systems

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On Friday, shortly after being placed into administration, Raymarine announced that it had been sold to FLIR Systems, a US company that specialises in thermal imaging products.

The purchase was valued at $180m (£125m) and includes repayment of Ramarine’s debts, thought to be in the region of around £90m. The purchase price equates to 20p per share.

FLIR president and CEO, Earl Lewis said, “Raymarine is a leading brand in the industry and has an outstanding reputation for high quality marine electronics equipment. When fully integrated we expect to have a significant marine electronics business as part of our Commercial Systems business.”