Teledyne Technologies Inc. TDY, -7.46% has agreed to acquire Flir Systems Inc. FLIR, 19.01% in a cash-and-stock deal valued at about $8 billion. Under the terms of the deal, Flir shareholders will receive $28 in cash and 0.0718 shares of Teledyne for each share owned, equal to a total purchase price of $56 per Flir share, based on Teledyne's 5-day volume weighted average price as of December 31. The deal offers a 40% premium over Flir's 30-day volume weighted average price as of December 31. Teledyne provides instrumentation, digital imaging products and software, aerospace and defense electronics and engineered systems. Flir makes sensors for defense and industrial uses. "At the core of both our companies is proprietary sensor technologies. Our business models are also similar: we each provide sensors, cameras and sensor systems to our customers. However, our technologies and products are uniquely complementary with minimal overlap, having imaging sensors based on different semiconductor technologies for different wavelengths," Teledyne Executive Chairman Robert Mehrabian said in a statement. Teledyne has secured a $4.5 billion 364-day credit commitment to fund the deal and refinance some of its debt. The deal is expected to close in mid 2021 and to immediately boost earnings excluding transaction costs. Flir shares soared 20.5% premarket on the news, but are down 17% in the last 12 months, while the S&P 500 SPX, -0.57% has gained 16%. Teledyne shares were not yet active.

According to an anonymous source that spoke to the BurstReview YouTube channel, FLIR will discontinue civilian sales of optics this Monday, January 20th.

According to BurstReview’s sources, FLIR’s board of directors and shareholders are anti-hunting and believe that only military and law enforcement should have access to thermal optics. This source also stated that FLIR allegedly laid off everyone in their civilian and hunting sales departments.

The sources stated this was further supported by recent events surrounding Armasight. Allegedly following FLIR’s acquisition of Armasight, they laid off all hunting prostaff and instructed social media personnel to never show any kill shots going forward.