May 19, 2021

AirBoss Completes Acquisition of BlackBox Biometrics

NEWMARKET, Ontario, May 17, 2021 (GLOBE NEWSWIRE) — AirBoss of America Corp. (TSX: BOS) (the “Company” or “AirBoss”) today announced that its subsidiary AirBoss Defense Group (“ADG”) has completed its previously announced acquisition of BlackBox Biometrics, Inc. (“B3”), developer of the revolutionary Blast Gauge® System of lightweight wearable blast overpressure sensors which have been outfitted on U.S. Special Forces, Army, and SWAT teams across the U.S.

In accordance with the purchase agreement, US$7 million in cash was paid on closing today, and the balance, up to an additional US$20M, will be paid in royalties over eight years, based on revenues earned by ADG from B3 products.

Source: Canadian Insider

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