GE Plans to Acquire InVision
WILTON, Conn.
GE Security has added to its cache of explosives detection and access control products with General Electric announcing it plans to acquire InVision Technologies Inc. The all-cash deal is valued at $900 million and is pending regulatory approval and the OK of InVision shareholders.
GE Infrastructure, the GE unit that includes GE Security, made the announcement of the move March 15 and touts it as “enhancing” GE’s capabilities in security technologies. “InVision is a perfect fit for GE Infrastructure’s security business,” says GE Chairman and CEO Jeff Immelt. “Executing on strategic growth platforms like Amersham, Vivendi-Universal Entertainment and InVision makes us feel even better about 2005 and beyond.”
As part of the deal, InVision will be combined with GE’s Ion Track business and be part of integrated offering by GE Security for high-security installations such as airports, power plants and sports arenas. InVision, founded in 1990, helped develop the explosive detection market.
“We will continue to innovate and add new technology for customers who already own GE or InVision detection systems,” says GE Security President Ken Boyda. “This combined platform will ultimately make it more effective for customers to acquire and integrate a comprehensive security screening system.”
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