OSI Systems, Inc. announces that its Security division received a contract with an initial order valued at approximately $27 million from a U.S.-based customer for maintenance service and technology support for its installed base of Rapiscan® cargo and vehicle inspection systems.
In addition to the initial order, which is expected to be completed in fiscal 25, this contract award also includes four option periods over approximately three years valued at $117 million in total if all are exercised by the customer. OSI Systems’ Chairman and CEO, Deepak Chopra, commented, “We appreciate this award and are committed to continuing to support this customer's security needs.”
