GE, InVision cling to acquisition plans

SSN Staff  - 
Wednesday, December 1, 2004

NEWARK, Calif. - General Electric and InVision Technologies said they remain committed to trying to make an acquisition of InVision Technologies work, despite an ongoing investigation by the Department of Justice and the Securities and Exchange Commission that has delayed the deal from closing.

The commitment was revealed in InVision Technologies’ third quarter report. In it, InVision Technologies said both companies have agreed to extend the termination rights of the transaction until Dec. 27.

The companies originally set Oct. 31, as the date that either party could exercise their right to terminate the deal.
GVI Security makes gains financially, Wade departs biz

CARROLLTON, Texas - GVI Security Solutions is beginning to see its balance sheet grow, thanks to increasing sales and new products brought onboard from manufacturing partners.

The company announced that in the third quarter, which ended Sept. 30, 2004, sales increased 20 percent for the first nine months of 2004, and sales are expected to range between $15.8 million to $16 million.

In other news, the company disclosed in an 8-K filing with the Securities and Exchange Commission that Thomas Wade, the company’s founder, president and 14-percent shareholder in the business, left the company.

According to SEC documents filed Oct. 19, the decision was a “mutual agreement.” Wade started the company four years ago as GVI Security, which does business as Samsung CCTV.
ECSI to acquire air and water detection co.
CLIFTON, N.J. - Electronic Control Security, a provider of perimeter security systems, has entered into an agreement to acquire Clarion Sensing Systems for $1.5 million in an all-stock deal.

The acquisition will bolster ECSI’s activities in the homeland security and military markets in the United States and elsewhere, the company said.