OSI Systems completes acquisition of American Science and Engineering
OSI Systems, Inc. of Hawthorne, CA announced on September 12 that it has completed its previously announced acquisition of American Science and Engineering, Inc. (“AS&E”), a leading provider of detection solutions for advanced cargo, parcel, and personnel inspection.
OSI Systems acquired all issued and outstanding shares of AS&E for $37.00 per share in cash and assumed certain unvested AS&E equity awards for a total purchase price of approximately $269 million. With this acquisition, OSI Systems’ security offerings now include additional inspection systems based on X-ray backscatter technology, including the Z Backscatter® Van (ZBV®) and the MINI Z® portable backscatter based inspection system.
Deepak Chopra, OSI Systems’ chairman and chief executive officer, said, “We are pleased to complete our acquisition of AS&E and look forward to continue delivering compelling value and service to our customers worldwide with an expanded portfolio of screening solutions for port, border, aviation and critical infrastructure security.”
Source: OSI Systems, Inc.