OSI Systems Completes Acquisition of American Science and Engineering
HAWTHORNE, Calif. - OSI Systems, Inc. (NASDAQ: OSIS) today announced that it has completed its previously announced acquisition of American Science and Engineering, Inc. ("ASE"), a leading provider of detection solutions for advanced cargo, parcel, and personnel inspection. OSI Systems acquired all issued and outstanding shares of ASE 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."
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense and aerospace industries. It combines more than 30 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end product markets. For more information on OSI Systems, Inc. or any of its subsidiary companies, visit www.osi-systems.com.
OSI Systems, Inc.
Ajay Vashishat, 310-349-2237
Vice President, Business Development
avashishat@osi-systems.com
Source: OSI Systems, Inc.
OSI Systems, Inc.
12525 Chadron Avenue ,
Hawthorne, CA 90250
