X-ray system manufacturer OSI Systems on Monday completed its acquisition of American Science and Engineering Inc. for $37 a share, a cash deal worth $269 million.
OSI Systems manufactures X-ray systems for security purposes, patient monitoring equipment, and light-sensing electrical components. AS&E manufactures x-ray systems for clients in the military, law enforcement and shipping sectors, which are used to scan cargo, packages and people.
“We are pleased to complete our acquisition of AS&E,” said Deepak Chopra, OSI Systems’ chief executive, said in a statement, “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.”
The deal deepens OSI Systems reach in the x-ray systems industry, especially for the security and military applications. The company’s stock rose 2 percent to close at 65.33 a share.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Silicon Beach Report Sept. 12: OSI Systems Completes $269 Million Acquisition of American Science and Engineering
- Security Systems Maker Locks Up Industry Peer with $269 Million Deal
- OSI Systems Inc. to Buy American Science & Engineering for $269M
- Growth Spurt at OSI Systems
- Silicon Beach Roundup June 21: Hyperloop One Explores System in Moscow
- Detection Technology Firm Acquires Competitor in Bid to Expand Offerings
- OSI Gets Airport Security Order
- OSI Gets $3.5 Million Contract