QRSciences Holdings acquires Spectrum San Diego
The acquisition will boost QRSciences’ product offering of security related applications including the detection of explosives and narcotics, metal detection and imaging
QRSciences Holdings Limited (QRSNY)(ASX: QRS), wholly owned U.S. subsidiary QRSciences Corporation, has exercised its option to acquire the remaining shares of Spectrum San Diego, Inc. for approximately US$9.32 million. Spectrum has two products which are being sold currently and a third which is in late stage development. CastScope uses backscatter imaging to inspect casts and bandages for hidden threats is buoyed by a US$37 million dollar IDIQ (Indefinite Delivery Indefinite Quantity) order that was placed by the U.S. government in October 2007.
SentryScope is a 21 mega-pixel ultra-high resolution camera with 180 degree field of vision. More than 200 systems have been installed to date with customers including airports, stadiums, ports, prisons, casinos, and border checkpoints. CarScan, the third product is expected to be available for sale in the next twelve months and uses dual-energy X-ray to scan vehicles for explosives, narcotics and other contraband.
CEO of QRS Rick Stokes commented, “Spectrum have worked closely with the US Department of Homeland Security and the Transportation Security Administration and are delivering products and solutions to the market now. The R&D pipeline is expected to yield a steady stream of new products to improve security for travellers, at border crossings, public buildings, hospitals, prisons, stadiums, auditoriums and transportation hubs.”
The CastScope enables checkpoint screeners to search for concealed threats when screening passengers with casts, braces, heavy bandages, or prosthetics for professional inspections with less embarrassment. Other potential customers for CastScope include the U.S. Department of Defense, the U.S. State Department, DHS, as well as other local, state, and federal government agencies. CastScope should also be attractive to non-U.S. governments.”
CarScan is being funded by Technical Support Working Group, an agency of the U.S. government and will allow vehicles approaching a checkpoint or gate to drive slowly through the inspection gantry enabling screening without the driver or passengers leaving the vehicle. Phase I of the contract included a laboratory feasibility study that was followed by Phase II that involves the construction and field testing of a prototype.
