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.
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.
Having never known a world without e-mail, millennials are discovering the joy of hand-written correspondence.Continue reading »
Aging Americans are getting so many new hips, knees, shoulders, and ankles that orthopedic surgeons are having trouble handling demand.Continue reading »
When in doubt, always ask, but here are a few places where showing a student ID may get you more than you think.Continue reading »
Everett’s agreement with Steve Wynn gives the city the right to block a sale, Carlo DeMaria said.Continue reading »
Carolyn Lynch’s premature death triggered a changing of the guard at one of the city’s most visible family charities.Continue reading »
The Fed pumped trillions into the economy, yet there still are many unknowns about the strategy.Continue reading »
Seven national fast-food chains have agreed to end policies that block workers from changing branches — limiting their wages and job opportunities — under the threat of legal action from the state of Washington.Continue reading »
The FBI is warning consumers about a nasty new malware attack that has infected about half a million devices in more than 50 countries.Continue reading »
After wowing fans with YouTube videos, Boston Dynamics will try to sell its remarkable robots to a wider market.Continue reading »