Wilton, CT 3/15/04—General Electric’s GE Infrastructure unit has agreed to acquire InVision Technologies, an explosives
detection systems (EDS) provider, for $900 million in cash. GE is paying $50 a share for InVision, a 21% premium over the
March 12 closing price. GE Chairman and CEO Jeff Immelt commented, “Strategically, InVision is a perfect fit for GE
Infrastructure’s security business. It can enhance our broad strength in technology and service. Financially, we have
substantial revenue and operating synergies with InVision and this deal will be accretive to earnings in 2004.” GE plans to
combine InVision’s EDS products with its Ion Track (see IBO 9/30/02) explosives trace detection equipment to provide a
comprehensive set of detection and security systems for airports, mass transportation systems, borders and customs sites,
high security installations and public facilities. The deal is expected to close in less than a year.