TEL AVIV (Reuters) - Israel’s TowerJazz said on Thursday it will manufacture chips for Flir Systems Inc’s infrared technology for smartphone, security and industrial markets.
Flir makes sensors that enhance perception and awareness in a variety of applications including airborne and ground-based surveillance.
Production of chips for Flir’s night vision systems will initially bring the Israeli company millions of dollars in revenue a year, a market source said. But as the systems become standard in smartphone cameras, TowerJazz’s revenue from this will reach tens of millions of dollars a year, the source said.
TowerJazz’s Nasdaq-listed shares opened 3.2 percent higher at $14.47.
Reporting by Tova Cohen; Editing by Steven Scheer