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General Electric to Acquire InVision for $900 Mln
March 15 (Bloomberg) — General Electric Co. agreed to acquire InVision Technologies Inc., the largest maker of bomb detectors used in U.S. airports, for $900 million in cash to expand its line of security products.
General Electric will pay $50 a share, 21 percent more than InVision’s closing price on Friday. General Electric also said in a statement it expects profit of 32 cents a share in the first quarter and 39 cents in the second quarter, at the high end of its forecasts, as industrial-business orders continue to rise.
Chief Executive Officer Jeffrey Immelt said in December he expects sales in General Electric’s security unit to rise about 20 percent annually. U.S. airports will spend about $1 billion over the next two years to upgrade explosives detectors installed after the Sept. 11 attacks and InVision is one of only two makers of approved detectors, said analyst Chris Donaghey.
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The WhisprWave line of innovative maritime solutions is a product of Wave Dispersion Technologies, Inc. (WDT). The basic building block of all WDT systems is the patented and highly engineered WhisprWave molded polypropylene 34 sided polygonal module. The modularity, scalability, and survivability of the WhisprWave has been tested and proven globally for more then 10 years in some of the harshest marine environments.
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