Market Overview

FLIR Systems Completes Strategic Investment in CVEDIA


Investment Enables Rapid Development of Thermal-Based Machine
Learning Capabilities and Tools

FLIR Systems, Inc. (NASDAQ:FLIR) and CVEDIA PTE. Ltd., Inc. announced
today that FLIR has made a strategic investment in CVEDIA, developers of
machine learning applications that are used to efficiently enable sensor
systems with artificial intelligence.

CVEDIA's SynCity simulator software tool provides ultra-realistic,
multi-modal, digital environments for autonomous system OEMs and related
sensor makers to train their systems in a much faster, safer, and more
affordable manner than by utilizing traditional data collection
techniques. CVEDIA has developed SynCity to feature real-world physics;
simulate a multitude of lighting and environmental conditions; and
render objects such as people, animals, and automobiles in a manner that
artificial intelligence systems interpret them as real and lifelike.
This produces high-quality datasets that are fed into customer neural
network frameworks, materially shortening the time and easing the
process of training these deep learning systems.

The strategic investment by FLIR in CVEDIA will create opportunities for
the companies to accelerate the development of thermal spectrum-based
deep learning training tools for use by FLIR and selected partners in
integrating artificial intelligence into FLIR sensors and systems.
FLIR's advanced thermal imaging sensors are an ideal technology for
detecting living beings, seeing at night and through adverse
environmental conditions, and in identifying industrial process
abnormalities, making them a key capability in automotive, military, and
industrial applications. The investment will also provide CVEDIA with
growth capital to enable the expansion of their business.

"This investment in CVEDIA will enhance our ability to innovate sensing
solutions that enable our customers to more quickly and accurately make
their mission-critical decisions," said James Cannon, President and CEO
of FLIR. "The addition of software algorithms that automatically inform
a user or system of critical information is a valuable feature that
augments the distinctive and rich data our sensors produce. We see wide
applicability of these tools in our innovation of highly advanced
solutions, and we look forward to the collaboration with the CVEDIA

About FLIR Systems

Founded in 1978 and headquartered in Wilsonville, Oregon, FLIR
Systems is a world-leading maker of sensor systems that enhance
perception and heighten awareness, helping to save lives, improve
productivity, and protect the environment. Through its nearly 3,500
employees, FLIR's vision is to be "The World's Sixth Sense" by
leveraging thermal imaging and adjacent technologies to provide
innovative, intelligent solutions for security and surveillance,
environmental and condition monitoring, outdoor recreation, machine
vision, navigation, and advanced threat detection. For more information,
please visit
and follow @flir.


CVEDIA is committed to solving their clients' diverse sets of
challenges, providing services including simulation, data management,
system integration, and AI algorithm development. CVEDIA's simulation
platform – SynCity – generates photorealistic, labeled 3D worlds, and
sensor modelling, recreating everyday scenarios and edge cases for
training, testing, and validating machine learning algorithms across
multiple domains. For more information, please visit

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may contain words such as "anticipates,"
"estimates," "expects," "intends," and "believes," and similar words and
expressions, and include the assumptions that underlie such statements.
Such statements are based on current expectations, estimates, and
projections based, in part, on potentially inaccurate assumptions made
by management. These statements are not guarantees of future performance
and involve risks and uncertainties that are difficult to predict.
Therefore, actual outcomes and results may differ materially from what
is expressed or forecasted in such forward-looking statements due to
numerous factors. Such forward-looking statements speak only as of the
date on which they are made and FLIR does not undertake any obligation
to update any forward-looking statement to reflect events or
circumstances after the date of this release, or for changes made to
this document by wire services or Internet service providers.

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