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Print 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. ....
AirBoss to Acquire BlackBox Biometrics®, Developer of Blast Gauge® System benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.