News Article

OSI Systems Acquires Schwartz Electro-Optics
Date: Nov 20, 2003
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Featured firm in this article: Schwartz Electro-Optics Inc of Orlando, CA

HAWTHORNE, Calif., Nov. 20 -- OSI Systems Inc. announced it has completed its $1.5 million acquisition of Orlando, Fla.-based Schwartz Electro-Optics (SEO) Inc.'s laser-based remote sensing device manufacturing unit, which will now operate as OSI Laserscan.

The acquisition was completed through a bankruptcy court-supervised auction of SEO's assets. OSI acquired SEO's weapons simulation business, now OSI Defense Systems LLC, in September. Both businesses remain in Orlando.

Acquired assets include employees, equipment and associated technologies, including 11 US patents and a number of pending patents. Jeff Saunders, former President of SEO, will be president of OSI Laserscan.

The business develops remote sensing technology used in traffic management, agricultural management and mapping. Its core product is Autosense, a laser-based scanning system used to detect and classify vehicles in toll and traffic management applications. 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.

OSI Laserscan will also market 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 on orchard spray machines to provide intelligent control of fertilizer and pesticide use; and Toposense, a laser system used by topographical surveying companies for real-time, 3-D mapping.

"SEO's products and technologies fit perfectly into the strategic vision we have formulated for the continued growth of our optoelectronic product lines," said Deepak Chopra, chairman and CEO of OSI Systems. "In addition to being complementary to our core optoelectronics focus, there is opportunity for using the Autosense technology to create an intelligent, semi-automated vehicular inspection checkpoint, one that is able to facilitate a higher throughput by pre-emptively defining the scan zone, anticipating mechanical scan rate and potentially adjusting the intensity of the inspection source."