A stunning deal of a truly odd couple: Thermal camera leader FLIR has acquired home/budget surveillance specialist Lorex for $59 million. While not well known, Lorex has quietly become one of the biggest surveillance companies, on pace for ~$75 Million in revenue this year. Not only is this sizeable but the combination is extremely atypical. This deal has the potential to be a huge move for a FLIR or a comedy. In this note, we dig into the details and analyze FLIR's plans, based on a conversation with FLIR executives.