UK security firm Smith Group has completed the acquisition of Safran’s US-based subsidiary Morpho Detection, combining two global providers of threat detection equipment.
The deal, which was approved by the European Commission in January, was subject to Morpho selling its explosive trace detection business.
The acquisition was also cleared by the US Department of Justice (DOJ) on March 31, conditional on the post-completion divestment of Morpho Detection’s explosive trace detection business.
Safran also confirmed that the deal had been completed, adding that it will post a pre-tax capital gain from the sale in its first half 2017 accounts.
Victoria Moores email@example.com