GE agrees to $900 million InVision acquisition

GE Infrastructure announced yesterday that it is to acquire InVision Technologies, a provider of explosive detection and security solutions, for $900 million cash.

‘This acquisition is a game-changing event for the security industry. The combination of InVision with GE’s Ion Track business provides GE with a broad set of products and advanced scientific capabilities to address present and future security protection needs,’ said GE Infrastructure President and CEO Bill Woodburn.

According to a statement, combining InVision and GE Ion Track will enable GE to provide a suite of detection and security solutions to help protect airports and other mass transportation systems; border interdiction and customs sites; high security installations and large entertainment facilities.

In 1990, InVision pioneered the development of explosive detection systems in the aviation industry by introducing the first computed tomography (CT) technology for checked baggage inspection. GE Ion Track offers ion trace detection systems for detecting explosives and narcotics.

‘We will continue to innovate and add new technology for customers who already own GE or InVision detection systems,’ said GE Infrastructure Security President Ken Boyda. ‘The merged GE/InVision will also develop sophisticated systems that will simplify the check-in process while providing travellers a greater peace of mind.’

The acquisition is subject to normal closing conditions including customary regulatory approval and the approval of InVision shareholders.