in Security

Smiths Group agrees to sell Morpho Detection's former trace business

Posted 2 June 2017 · Add Comment

Smiths Group plc has announced that it has entered into a binding agreement with OSI Systems Inc to sell the explosive trace detection business formerly owned by Morpho Detection for an enterprise value of $75.5 million.

Above: Smith Detection's CTX 9800 DSi explosives detection system (EDS).

In connection with its acquisition of Morpho Detection from Safran, Smiths Group had made commitments to the European Commission (“EC”) and the Department of Justice (DOJ) to sell the explosive trace detection business.

The sale is conditional upon regulatory approval in Portugal and the approval by the EC and DOJ of OSI Systems Inc as a suitable purchaser.

Completion is expected in mid-2017.

Smiths Group is a global technology company listed on the London Stock Exchange. It specialises in the practical application of advanced technologies, delivering products and services for the threat & contraband detection, medical devices, energy and communications markets worldwide. Smiths Group employs more than 22,000 people in over 50 countries.

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

WEC secures full JOSCAR accreditation

Woodford Engineering Consultancy (WEC) has achieved full accreditation to the Joint Supply Chain Accreditation Register (JOSCAR).

Paris Air Show: Zagros Airlines signs MoU for 28 Airbus aircraft

Iranian domestic airline Zagros Airlines, has signed a memorandum of understanding with Airbus for the acquisition of 28 new aircraft, covering 20 A320neo and eight A330neo aircraft.

Paris Air Show: AirAsia to order 14 more A320ceo

AirAsia has signed an agreement with Airbus to order an additional 14 A320ceo aircraft to meet higher than expected near-term growth on the carrier's regional network.

Paris Air Show: Iran Airtour commits to 45 A320neo

Tehran based Iran Airtour Airlines, has become Airbus' newest customer for the A320neo, after signing a memorandum of understanding (MoU) for 45 aircraft at the Paris Air Show.

Defence Minister focuses on investment in Scottish expertise

UK investment, innovation and support for Scottish jobs and skills were the focus for Defence Minister Harriett Baldwin today, when she visited two leading employers to meet small and medium-sized enterprises (SMEs) and apprentices

EW Europe highlights technology advances

The electronic warfare community gathered in numbers at the recent AOC EW Europe 2017, which took place from 6-8 June in London, where examples of significant advances in technology highlighted a need for national forces to consider new

SMI AirMissSK0106130717
See us at
SMIUAV BT1005280917SMI FAVWS BT0504290617SMI AirMissBT0305251017Aviation Africa BT18418SMI12DE BT203280917DSEI LB0911150917