GE Delays InVision Purchase

NEWARK, Calif., Nov. 1 -- General Electric Co. (GE) agreed to delay until Dec. 27 its $900 million purchase of InVision Technologies Inc. while the US Department of Justice and Securities and Exchange Commission complete separate investigations.

GE agreed in March to buy Newark, Calif.-based InVision, a supplier of explosives detectors for US airports. The agreement had been set to expire on Oct. 31. (See "Probe Delays InVision Merger," August 2)

Today, InVision announced it and GE have entered into a waiver letter under which, among other things, InVision and GE waived until Dec. 27 the rights that either party may have to terminate the merger agreement because the transaction had not been completed by Oct. 31.

InVision and its subsidiaries make explosives detection systems based on advanced computed tomography technology, x-ray diffraction and quadrupole resonance.

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