GE Infrastructure to Acquire InVision

WILTON, Conn., April 21 -- GE Infrastructure, a unit of General Electric Co., recently agreed to acquire InVision, a Newark, Calif., maker of explosives detection systems based on advanced computed tomography (CT) technology, x-ray diffraction and quadrupole resonance, in an all-cash transaction valued at approximately $900 million, or $50 per share. GE said the acquisition enhances its capabilities in explosive detection and security technologies.

"This acquisition is a game-changing event for the security industry," said GE Infrastructure President and CEO Bill Woodburn. "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."

GE Ion Track makes ion trace detection systems for detecting explosives and narcotics. The acquisition is subject to normal closing conditions including customary regulatory approval and the approval of InVision shareholders.

GE said it plans provide a suite of complementary high-technology detection and security solutions to help protect airports and other mass transportation systems; border interdiction and customs sites; high-security installations like power plants, chemical plants and military bases; and entertainment facilities such as sports arenas.

InVision announced today it has received an order for 26 CTX 9000 DSi explosives detection systems, accessories and service for the new Bangkok International Airport in Thailand. The order includes a two-year service contract. All equipment is expected to ship by the end of first quarter 2005. The airport is scheduled to open in September 2005.

For more information, visit: www.invision-tech.com