OSI Systems (OSIS) Announces Completion of American Science and Engineering Purchase

September 12, 2016 8:28 AM EDT

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OSI Systems, Inc. (Nasdaq: OSIS) announced 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.”

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