AirBoss of America to acquire BlackBox Biometrics for $27M

AirBoss of America Corp. announced that its subsidiary AirBoss Defense Group has agreed to acquire 100% ownership of BlackBox Biometrics, developer of the 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. AirBoss currently holds a minority interest in B3 and exclusive sales rights of the Blast Gauge System to the U.S. military. Pursuant to the Agreement, ADG will acquire B3 for up to $27M, to be satisfied through $7M of cash upon closing and up to $20M in royalties over eight years, based on revenues earned by ADG from B3 products. The transaction is subject to customary closing conditions and is expected to close during the second quarter of 2021. This acquisition will allow ADG to offer solutions to help protect people worldwide from exposure to cumulative brain trauma. B3 is a leading technology company focused on preserving health, transforming behavior, and optimizing performance. Its sensor systems monitor, record, and analyze blast and impact events to protect warfighters, first responders, and athletes. From training to deployment, B3 technologies capture the data that drives change. Its products include the Blast Gauge System for militaries and law enforcement and its athlete-focused Linx IAS product, which empowers parents, coaches, and players with real-time feedback on potential concussion-causing impacts. These products capture and interpret complex data associated with concussive events to ensure faster and more accurate treatment and provide health care professionals globally with better research for advancing the study of traumatic brain injury.