Technology

American Science and Engineering bought by OSI Systems for $269m

American Science and Engineering Inc., the Massachusetts maker of X-ray detection machines, announced it was acquired for $269 million Tuesday morning by OSI Systems Inc., which also makes electronic security systems for airports and other homeland security settings.

OSI agreed to buy American Science for $37 a share, a premium of about 14 percent on Monday’s closing price. American Science makes X-ray screeners for use in airports and in ports and border crossings to combat drug smuggling and illegal immigration.

Advertisement

OSI chief executive Deepak Chopra said the addition of American Science’s “expanded security scanning business unit,” its X-ray technology, fits the company’s expansion plans and will enable the combined company to attract more clients.

American Science’s current operations in Billerica are expected to remain as part of the deal.

American Science’s stock closed up about 14 percent Tuesday to $36.88 on the news. OSI, based in Hawthorne, Calif., rose 9.11 percent to $57.48.

Michael Bodley can be reached at michael.bodley@globe.com. Follow him on Twitter @michael_bodley.
Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com