OSI Systems Acquires American Science and Engineering

Hawthorne-base OSI Systems, which develops electronics systems for the homeland security, healthcare, and other markets, said this morning that it has acquired American Science and Engineering, Inc. (AS&E), in a deal worth approximately $187M. OSI said it would pay $37.00 per share in cash for A&E, which makes backscatter X-ray inspection equipment used for screening cargo, parcel, and personnel. OSI Systems said it will fund the acquisition from an existing, $450M credit facility. OSI Systems was advised by Citigroup and Roth Capital in the deal, along with Latham & Watkins and Crowell & Moring.