Loeb & Loeb LLP represented OSI Systems, Inc. (NASDAQ: OSIS) in reaching a definitive agreement to acquire the global explosive trace detection (ETD) business from Smiths Group plc for $75.5 million in cash. The closing of the transaction is subject to antitrust approval and other customary closing conditions.
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. The acquisition of the ETD business—a leader in trace detection with a current worldwide installed base of approximately 11,000 units—is highly complementary to OSI’s current operations and expands its security product offerings.
Read the OSI Systems press release at www.osi-systems.com.