1 June 2017
Smiths Group plc (“Smiths Group”) today announces that it has entered into a binding agreement with OSI Systems, Inc to sell the explosive trace detection business formerly owned by Morpho Detection (the “Trace Business”) for an enterprise value of $75.5 million.
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 Trace 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.
General media enquiries
Contact our global media and communications team at:
Please note – the press team can only answer enquiries from accredited members of the press.
Related articles
Smiths Group plc – Q1 Trading Update
Find out more
Smiths Detection supplies industry-leading 3D X-ray scanners to Kansai International Airport
Passengers passing through Osaka’s busiest airport will soon be able to leave liquids and electronics in bags.
Find out more
Smiths Detection receives key certification for its AI-powered threat detection technology
AI-empowered technology identifies a wide range of airport threats and meets strict EU and Dutch requirements, setting an industry benchmark
Find out more
