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