Flir to sell Raymarine

[rudykruger]

https://www.ibinews.com/mergers-acqu.../35798.article

Hope it doesn't end up in the Navico PE stable with B&G, Simrad and Lowrance.

[mikedefieslife]

CF group buy?

[Paul L]

Looks like the division with Raymarinein it has been seeing decreasing revenue

Commercial business unit revenue decreased by 10.1 percent in 2019 compared to 2018. Earnings from operations decreased by 20.4 percent in 2019 compared to 2018. The decrease in both revenue and earnings from operations was attributed to volume declines in the OTS business and Maritime product lines during fiscal 2019

[CaptTom]

I thought Raymarine bought Flir not too long ago. Or was it the other way around?

I can't keep track any more! I still remember when AOL bought Time Warner, then Time Warner later spun off AOL.

At any rate, it's been a long time since Raymarine was part of Raytheon. For a while they held onto their reputation for top-notch hardware and support, but I think that's become a thing of the past now. They have, however, kept their top-notch pricing.

[mikedefieslife]

Originally Posted by Paul L

Looks like the division with Raymarinein it has been seeing decreasing revenue

That doesn't mean that division isn't profit making though, or that the Raymarine part of it isn't doing well.

I think it's a good opportunity for company to come in and start listening more to their audience. Perhaps taking a leaf out of Victron's book, and implementing open standards for a variety of things.

[GordMay]

Originally Posted by CaptTom

I thought Raymarine bought Flir not too long ago. Or was it the other way around? ...

Originally Posted by mikedefieslife

CF group buy?

May 14, 2010
FLIR Systems Announces Acquisition of the Stock of Raymarine Holdings
PORTLAND, OR, May 14, 2010 (MARKETWIRE via COMTEX News Network) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has entered into a definitive agreement with the Administrator of Raymarine plc to acquire all of the outstanding shares of its wholly owned subsidiary, Raymarine Holdings Limited. The transaction value of approximately $180 million includes repayment of all of Raymarine's indebtedness and approximately $24 million in proceeds to Raymarine plc which is equivalent to 20 pence per ordinary share. The acquisition represents the entire business operations of Raymarine and its subsidiaries.

[Paul L]

Originally Posted by mikedefieslife

That doesn't mean that division isn't profit making though, or that the Raymarine part of it isn't doing well.

I think it's a good opportunity for company to come in and start listening more to their audience. Perhaps taking a leaf out of Victron's book, and implementing open standards for a variety of things.

Right, it says decreasing revenue, which usually is associated with decreasing profits, but if you cut enough costs you can sometimes squeak out a profit,. Either way Flir has decided to bail on a business that is not strategic to them and is not growing.

[Jim Cate]

Didn't it all start with Autohelm back in the 70s or so? That outfit has sure been kicked up the road a few times. Wonder where to next?

Jim

[Tillsbury]

It was great when it was autohelm, so far ahead of everyone. The Autohelm Personal Compass was the best bit of kit ever made.

[Paul L]

Originally Posted by Jim Cate

Didn't it all start with Autohelm back in the 70s or so? That outfit has sure been kicked up the road a few times. Wonder where to next?

Jim

It started with Raytheon:
1974 • Nautech/Autohelm is formed

1958 • Raytheon acquires Apelco

1923 • Raytheon launches first depth sounder