AirBoss to acquire full ownership of BlackBox Biometrics

NEWMARKET, Ontario—AirBoss Defense Group will acquire 100 percent of BlackBox Biometrics Inc., developer of the Blast Gauge System of lightweight wearable blast overpressure sensors used by U.S. special forces, Army and SWAT teams.

The subsidiary of Newmarket-based AirBoss of America Corp. currently holds a minority interest in in BlackBox, called B3, and exclusive sales rights for the Blast Gauge System to the U.S. military.

Under terms of the purchase agreement, AirBoss will acquire full ownership of BlackBox for up to $27 million, to be satisfied through $7 million in cash upon closing of the transaction and up to $20 million in royalties over eight years, based on revenues earned by ADG from B3 products. The deal is subject to customary closing conditions and expected to be finalized during the second quarter.

According to AirBoss, the acquisition will allow ADG to offer products to help protect people globally from exposure to cumulative brain trauma. B3 is a firm focused on preserving health, transforming behavior and optimizing performance, the company said. It said B3's sensor systems monitor, record and analyze blast and impact events to protect soldiers, first responders and athletes.

"The acquisition of B3's proprietary technology and deep technical expertise, combined with ADG's manufacturing expertise and global customer relationships puts us in a strong position to drive adoption of B3's products with our customer base in the domestic and international military and health care markets," said AirBoss President Chris Bitsakakis.

AirBoss said in a release that the Blast Gauge System is a set of three lightweight wearable sensors that measure blast overpressure. The captured data is analyzed and stored on data monitoring software to help improve future operations, training and research.