Rapiscan Continues Innovation Leadership with Acquisition of Advanced Artificial Intelligence (AI) Technology
TORRANCE, Calif.–(BUSINESS WIRE)–Rapiscan® Systems, a leading global supplier of security inspection technology, has announced the acquisition of an artificial intelligence (AI) platform from Synapse Technology Corporation.
This industry-leading AI platform has the potential to enhance the detection of threats and other prohibited items using advanced deep learning techniques and computer vision.
Mal Maginnis, President, Rapiscan Detection, said, “This investment in advanced detection technology exhibits our commitment to innovation, security, and operational efficiency. The AI platform is expected to improve detection capabilities for our customers worldwide, while reducing operating costs and increasing throughput.”
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc., is a leading global provider of security inspection solutions, with more than 100,000 products installed in over 170 countries. Rapiscan Systems has an extensive portfolio of Baggage and Parcel Inspection, Cargo and Vehicle Inspection, Hold Baggage Screening, People Screening, Trace Detection, Radiation Detection, Tray Return System and enhanced security solutions, which are supported by a global service network. The company’s products, solutions and services operate in demanding security environments, including at airports, border crossings, railway stations, seaports, government and military installations and high-risk facilities. Rapiscan Systems promotes excellence in security and efficiency, continually investing in research to develop technological advancements that address present and future threats and are designed to meet the most rigorous compliance standards worldwide.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to Rapiscan Systems’ current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside Rapiscan Systems’ control, and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are based on currently available information and speak only as of the date on which they are made. Rapiscan Systems assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws. For a further discussion of factors that could cause Rapiscan Systems’ future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the OSI Systems, Inc. most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems, Inc. from time to time with the Securities and Exchange Commission.
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