Portland, OR--FLIR Systems (NASDAQ: FLIR) today will begin a cash tender offer to purchase all outstanding shares of common stock of ICx Technologies, Inc. (NASDAQ: ICXT). On August 16, 2010, the companies previously announced a definitive agreement whereby FLIR agreed to acquire ICx in a cash tender offer and subsequent merger for an aggregate cash purchase price of approximately $274 million.
Upon the successful closing of the tender offer, shareholders of ICx will receive $7.55 in cash for each share of ICx common stock tendered in the offer, without interest and less any required withholding taxes. As previously disclosed, the boards of directors of FLIR and ICx have approved the transaction.
The tender offer will expire at midnight on October 1, 2010, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC. The closing of the tender offer is conditioned upon the tender of at least a majority of the outstanding shares of ICx common stock on a fully diluted basis.
FLIR Systems designs and makes thermal imaging and stabilized camera systems for a wide variety of thermography and imaging applications including research and development, manufacturing process control, airborne observation and broadcast, search and rescue, drug interdiction, surveillance and reconnaissance, navigation safety, border and maritime patrol, environmental monitoring, and ground-based security.
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