US-based sensor systems manufacturer FLIR Systems has acquired Belgium-based Traficon International, a provider of video detection technologies for traffic applications, for nearly $46m.

As a part of the acquisition, FLIR has purchased all the shares from Indufin, Traficon’s main shareholder as well as from the Belgian company’s management team and employees.

FLIR president and CEO Earl Lewis said that the deal will speed up the adoption of FLIR technology in the worldwide video-based traffic control solutions market as the company will utilise Traficon’s strong distribution network.

"Additionally, Traficon’s video analytics capabilities will be integrated into our other imaging lines of business offering enhanced functionality and the development of new applications," Lewis said.

"As a part of the acquisition, FLIR has purchased all the shares from Indufin, Traficon’s main shareholder as well as from the Belgian company’s management team and employees."

According to FLIR, the transaction is expected to be neutral to 2013 net earnings and accretive thereafter.

Traficon expects the deal to fuel its growth in the global Intelligent Transportation Systems (ITS) market in the long term.

Traficon produces video image processing software and hardware for traffic analysis, and offers solutions for automatic incident detection, traffic data collection and intersection vehicle and pedestrian presence detection, in order to make traffic safer and more efficient.

Its product portfolio includes AID cameras, detector boards, communication boards, vehicle presence sensors, pedestrian presence sensors, PC software and ANPR cameras.

Currently, Traficon has more than 80,000 video-based transportation control and monitoring systems operational across the globe.

FLIR Systems, established in 1978, designs, manufactures, and markets sensor systems that improve perception and awareness.

The company’s thermal imaging and threat detection systems are used in various imaging, thermography, and security applications such as airborne and ground-based surveillance, transportation safety, condition monitoring, research and development and manufacturing process control.