Teledyne Scores Biggest Deal Ever With $7.36 Billion Flir Buyout

Teledyne Technologies Inc. agreed to buy Flir Systems Inc. for $7.36 billion, making its biggest acquisition ever to bolster a lineup of sensors and imaging systems used in aerospace and defense.

Flir’s shares, which tumbled last year, jumped on Monday by the most since 2001.

The companies would have combined 2020 revenue of roughly $5 billion on a pro forma basis, according to a presentation for analysts. Flir’s imaging products in the battlefield and commercial markets would add to Teledyne’s lineup of space and aircraft systems.

With demand on the rise, Teledyne has been targeting acquisitions. The company, which was ...