. | . |
Safran selling Morpho Detection to the Smith Group by Richard Tomkins Paris (UPI) Apr 21, 2016
Morpho Detection LLC, a U.S. subsidiary of France's Safran, is to be sold to Smiths Group Plc. The selling price for Morpho is an enterprise value of $710 million, Safran said, and the sale is subject to regulatory approvals and customary closing conditions. The sale is expected to close early in 2017. Philippe Petitcolin, chief executive officer of Safran, said the sale "... is in line with our announced strategy to focus our development on the aerospace and defense markets.'' Morpho Detection is headquartered in Newark, Calif. It provides solutions at airports for detecting and identifying chemical, biological, radiological, nuclear and explosive threats, as well as other illicit items. Morpho Detection after the sale will become part of Smiths Group's Detection business segment, which designs and manufactures sensors for the detection and identification of explosives, weapons, chemical agents and other contraband. "The threat environment for people and critical infrastructure around the world is constantly evolving and becoming more complex and sophisticated," said Andrew Reynolds Smith, chief executive of Smiths Group, a British company. "The response, to keep people safe and the world running, demands cutting-edge technology and cost-efficient solutions. "Morpho Detection is a high-quality business with a strong management team, and I am convinced that this combination provides a compelling competitive platform for product, service and technology leadership."
Related Links The Military Industrial Complex at SpaceWar.com Learn about the Superpowers of the 21st Century at SpaceWar.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |