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Axsys makes high-end infrared surveillance cameras for border and port security. It recently won a contract for border security in Kuwait, Conner said.
The 40-year-old company also manufactures lenses for military platforms like tanks, as well as lenses for lower-end infrared cameras.
Axsys' Conner said the company is currently leasing office buildings in Salem and Billerica. Those leases will be up soon.
"We are really at capacity at both locations," Conner said. "We need to put them under one roof and have space for growth."
Connor said Axsys looked at buildings throughout southern New Hampshire and northern Massachusetts. The former Teradyne building had the right size, price and geography, he said.