INVN--news & selected updates...
Selected highlights, boldface is mine, and rearranged some.
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briefing.com
>>>Hourly In Play®
Updated: 27-Feb-03 13:00 ET
09:13 ET InVision upgraded at SG Cowen (INVN) 21.07: -- Update -- SG Cowen upgrades to Mkt Perform from Underperform, saying the co's acquisition of Yxlon (6:59) diversifies INVN's customers and mkts, may improve the accuracy of INVN's core EDS products, and provides an important component for another new mkt, cargo screening.<<<
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quote.bloomberg.com
02/19 12:02
Invision Technologies Cut to `Underperform' at SG Cowen:INVN US
By Sybil Chahbandour
Princeton, New Jersey, Feb. 19 (Bloomberg Data) -- Invision Technologies Inc. (INVN US) was downgraded to ``underperform'' from ``outperform'' by analyst Robert W Stone at SG Cowen.
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whitehouse.gov
invision-tech.com
>>>InVision Technologies Signs Definitive Agreement to Acquire YXLON International
German Company a Leader in X-Ray Diffraction and Non-Destructive Testing
Diffraction Technology with EDS Can Dramatically Reduce False Alarms
NEWARK, Calif.--(BUSINESS WIRE)--Feb. 27, 2003
"We believe the acquisition of YXLON will strengthen InVision's position as the leader in the multi-billion dollar global EDS market for aviation security," said Sergio Magistri, Ph.D., InVision's President and Chief Executive Officer. "YXLON's diffraction technology is highly complementary to InVision's computed tomography technology and we expect that the combination will result in a superior EDS product. InVision will also look to leverage YXLON's core competencies in x-ray technology into new products for check point and cargo screening."
Dr. Magistri added, "We see some attractive synergies with YXLON's x-ray based NDT business. Both NDT and our EDS products rely heavily on x-ray technology, sophisticated image processing and automated detection of defects, anomalies and threats. Furthermore, YXLON has developed expertise in the development of 450 kilovolt x-ray components that are critical to cargo screening systems, which represents InVision's entry into this growth area of security," he said
"We are focused on growing our business, both organically and through acquisitions, and will continue to look for opportunities that meet our strategic goals," continued Dr. Magistri.
"Our strategic focus is three-fold:
... first, strengthening our core EDS business, as we have done with the anticipated acquisition of YXLON;
... second, expanding our product base into cargo, people and parcel screening; and
... third, leveraging our aviation security expertise and reputation into the broader homeland security industry."<<< |
