Raymarine acquired by FLIR Systems

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

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.”