OSI Systems (OSIS) Receives $64M U.S. CBP Contract for Z Portal Systems

October 24, 2016 8:37 AM EDT

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

OSI Systems, Inc. (Nasdaq: OSIS) announced that its recently acquired business, American Science and Engineering, Inc. (AS&E), has been awarded an indefinite delivery, indefinite quantity (IDIQ) contract from U.S. Customs and Border Protection (CBP) for Z Portal® cargo and vehicle screening systems. The two-year Z Portal sole-source IDIQ contract is valued up to $64 million. AS&E also received the first delivery order under the IDIQ contract valued at approximately $35 million. The Z Portal systems are expected to be deployed for homeland security applications at multiple border locations.

“The recent AS&E acquisition immediately broadens our offerings for customs applications with proven backscatter-based solutions,” said Deepak Chopra, OSI’s Chairman and CEO. “The award follows the deployment of Z Portal systems on U.S. border crossings, where they are used to safely and effectively screen vehicles for explosive threats, drugs, and other contraband. We are pleased to receive this IDIQ award from CBP and look forward to continuing to support its critical counter-drug and anti-terrorism missions.”



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Corporate News

Related Entities

Definitive Agreement

Add Your Comment