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HAWTHORNE, Calif. November 20, 2003. -OSI Systems has completed a $1.5 million acquisition of substantially all remaining assets of Schwartz Electro-Optics, Inc. These assets constitute a business in the design, manufacturing and sales of laser-based remote sensing devices. The acquisition was completed through a bankruptcy court supervised auction of SEO's assets. The newly acquired business will now operate as OSI Laserscan. OSI had previously acquired SEO's weapons simulation business, which currently operates as OSI Defense Systems, LLC.
Current applications for Laserscan's precision remote sensing technology include traffic management, agricultural management, and mapping. Assets acquired include employees, equipment, all associated technologies including 11 issued U.S. patents, as well as a number of pending patents.
Autosense, OSI Laserscan's core product, a laser-based scanning system is used to detect and classify vehicles in toll and traffic management applications. It has quickly become one of the leading components in the toll and traffic management markets, replacing many other systems because of its unique non-invasive design. OSI Laserscan will continue to implement existing contracts for Autosense with the Florida Department of Transportation, Transcore LP, Raytheon TMS, 407ETR, and other system integrators in the Intelligent Transportation Systems marketplace. Autosense is installed at numerous toll crossings including those in Florida, Maine, New York, and California among other states; internationally Autosense products are also deployed in Canada, Korea, Italy, France, and Japan.
Other products to be marketed by OSI Laserscan include a Robotic Sensor developed with General Dynamics Robotic Systems Division for use in the US Army's Future Combat Vehicle program; Treesense, a precision farming sensor mounted to orchard spray machines to provide intelligent control of fertilizer and pesticide use; and Toposense, a laser system utilized by topographical surveying companies for real time three dimensional mapping.
OSI Systems Inc. is a diversified global developer, manufacturer and seller of optoelectronic-based components and systems. The company has more than 30 years of optoelectronics experience, and through its family of subsidiaries, competes in four specific growth areas: OEM Manufacturing, Security, Medical and Fiber Optics.
For more information on OSI Systems Inc. or any of its subsidiary companies, visit www.osi-systems
Military & Aerospace Electronics
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