QRSciences buys Spectrum San Diego

Australian company QRSciences Holdings Ltd. has purchased homeland security contractor Spectrum San Diego Inc. for $14 million.

Spectrum has two imaging products: CastScope, a backscatter technology for scanning casts and bandages for hidden threats, and SentryScope, a high-resolution camera system. A third imaging product, CarScan, which is a remote screening technology for automobiles, is in development with funding from the Technical Support Working Group, a federal agency.

Spectrum's clients include the Homeland Security Department and Transportation Security Administration, the company said in a news release.

QRSciences previously had purchased a nearly 30 percent share of Spectrum through its U.S. subsidiary, QRSciences Corp. QRSciences said on Aug. 12 it exercised its option to acquire the remaining shares. The total purchase price was $14 million, according to the news release.