On September 14, 2007 FLIR Systems announced that it has entered into an agreement to acquire a controlling interest in CEDIP Infrared Systems. The acquisition improves FLIR's international distribution network and brings new products and technology, including cooled mid-wave infrared cameras, while also providing an important manufacturing and technology base in Europe.

Since 2002, Electrophysics and CEDIP have enjoyed a partnership whereby Electrophysics has performed business development in North America for CEDIP’s Thermography product line. As such, Electrophysics has been the exclusive distributor for CEDIP to provide sales, applications, and customer support for the CEDIP-manufactured infrared cameras and systems. Electrophysics and CEDIP have agreed to continue this relationship for at least one year during which Electrophysics will continue to develop new customers and applications for CEDIP’s products as well as provide excellent support and service for existing customers. All applications and customer service/support will continue to be handled in our New Jersey facilities.

The proposed transaction between FLIR Systems and CEDIP Infrared Systems is subject to various closing conditions, including the authorization of the French Minister of Finance and Economy which will take a few months.