NEWMARKET, Ontario—AirBoss of America Corp.'s deal to acquire BlackBox Biometrics Inc. (B3) is now complete.
BlackBox makes wearable blast overpressure sensors that are used by military and law enforcement personal.
AirBoss, based in Newmarket, paid $7 million cash and will pay up to $20 million in royalties over the next eight years based on revenue from BlackBox Biometrics products, the new owner said.
Critical Solutions International (CSI), a unit of AirBoss, has been the exclusive distributor of the Blast Gage System since 2018.
The acquisition will join with CSI to form the newly created Systems Solutions Division. Current B3 CEO Matt Boccia will head the new division and the company's headquarters and primary manufacturing and research and development will stay in Rochester, N.Y.
"ADG anticipates a potentially significant escalation in usage of the Blast Gauge System in the coming years, due in part to the National Defense Authorization Act for Fiscal Year 2020, which included requirements for the Pentagon to document blast exposure in troop medical histories including date, duration and measured blast pressure," the company said.
AirBoss is both a rubber compounder and maker of finished rubber products, including gear used by the military such as gas masks and gloves. Other markets include automotive, heavy commercial, construction, infrastructure, and oil and gas.