Security industry

Safran enters into an agreement for the sale of Morpho Detection

Safran (Euronext Paris: SAF) today announced that it has reached an agreement to sell Morpho Detection LLC, a US-based subsidiary of Safran, and other detection related activities to Smiths Group plc for an enterprise value of $710 million.

Headquartered in Newark, California, Morpho Detection provides solutions for detecting and identifying chemical, biological, radiological, nuclear and explosive (“CBRNE”) threats as well as other illicit items threats as well as other illicit items to improve security at airports, borders, and sensitive sites and events. Morpho Detection is part of Safran’s Morpho business within its Security segment, and recorded revenue of $320 million in 2015.

Morpho Detection will become part of Smiths Group plc’s Detection segment, which designs and manufactures sensors that detect and identify explosives, weapons, chemical agents and other contraband.