U.S. Customs and Border Protection Selects Rapiscan Systems | AS&E Low-Energy Portal X-Ray Systems
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division was recently awarded an indefinite delivery, indefinite quantity (“IDIQ”) contract by the U.S. Customs and Border Protection (“CBP”) for low-energy portal (“LEP”) x-ray systems. The multiple vendor IDIQ contract has a potential value of up to $390 million and contains a five-year ordering period for systems and associated services. This is in addition to the previously announced $480 million, multi-energy portal (“MEP”) IDIQ contract.
Under the LEP and MEP IDIQ contract awards, the Company received two delivery orders totaling approximately $200 million. The Company could potentially receive up to an additional $65 million under these orders if the CBP exercises its options.
“We are excited to receive the largest orders awarded to date under these IDIQs. We look forward to supporting CBP’s non-intrusive inspection program with our industry-leading Rapiscan, AS&E and S2 Global border security offerings that provide our customers a range of solutions to address continually evolving threats,” said Deepak Chopra, OSI Systems’ Chairman and CEO.