Those of us who consider Raymarine equipment to be amongst the best yachting electronics will be please to hear that a rescue deal has been announced for the troubled manufacturer.

Raymarine is pleased to report that FLIR Systems, Inc. (NASDAQ: FLIR) 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 Ltd.  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.

Raymarine, a world leader in the marine electronics industry, provides the most comprehensive range of electronic equipment for the recreational boating and light commercial marine markets.  For the twelve months ended December 31, 2009, Raymarine reported revenue of approximately $170 million (£104.3 million).

"This is a strategically compelling transaction for FLIR," commented Earl Lewis, FLIR’s President and CEO. "Raymarine is a leading brand in the industry and has an outstanding reputation for high quality marine electronics equipment.  When fully integrated, we expect to have a significant marine electronics business as part of our Commercial Systems business.  I welcome Raymarine's employees to FLIR."

FLIR plans to expand Raymarine's product line breadth by integrating thermal imaging cameras with Raymarine's display, radar and autopilot product lines to create the broadest, most effective, and easiest to use suite of products in the marine electronics industry.

Andy King, Director of Sales and Marketing for Raymarine UK Ltd, said, “This has tremendous possibilities for Raymarine, our distribution network and our customers particularly as thermal imaging, with the ability to see clearly at night, will become more important to the leisure boater.  It’s very exciting news and we welcome this next step in the story of the Raymarine brand and product.”  

The acquisition furthers FLIR's strategy in the marine market by dramatically increasing its maritime distribution network with the addition of Raymarine's 1,000 dealer outlets and 400+ marine OEMs to FLIR's existing distribution.

All employees of the Raymarine Group have been transferred to FLIR as part of the sale of Raymarine Holdings Ltd.  FLIR has no products that compete with Raymarine and there will be no changes to Raymarine facilities as a result of the acquisition.  Suppliers should continue to work with Raymarine as normal and all trade creditors will be paid in the normal course of business.

STANDARD HORIZON UPGRADES ITS FLOATING
HAND-HELD VHF RADIO – INTRODUCING THE HX751E

Since launching its first floating, rugged and submersible hand-held radio, Standard Horizon has now made it even better. The new HX751E replaces the popular HX750E, and offers even more safety features and user functionality.

Leading electronics manufacturer, Standard Horizon, is proud to announce the launch of the GX2100E and GX2000E, two new Class D VHF DSC transceivers, which can display comprehensive AIS data on their large LCD back-lit panels.

The GX2000E is designed to take its data from an external AIS receiver and simply connects to it via an NMEA cable. The GX2100E, however, has its own built-in dual channel AIS receiver. Pleasure boats operating near commercial ports or busy shipping lanes will find this system invaluable.

ULTRASONIC ANTIFOULING ANNOUNCES THE LAUNCH OF ULTRA SOLAR

Ultrasonic Antifouling Ltd, whose revolutionary and eco-friendly Ultra system has transformed and superseded traditional methods of antifouling, is launching an exciting new addition to its product range – the Ultra Solar.

Ultra Solar is a new stand-alone system which complements the existing Ultra range.  It is designed to give boat owners without access to a shore power supply the opportunity to benefit from having an Ultra system fitted to their boat – something which was not previously possible.

Two years ago, the Gill R&D team were given a simple brief – to design the best lightweight race gear for sailing, with specific emphasis on hot and sunny conditions.

The most detailed research project ever undertaken by the Gill team was put in place. Meetings were held with teams at the top of the game, from the TP52, to the Laser SB3 racing team, to committed weekend warriors.