France’s Safran has agreed to sell its U.S.-based Morpho Detection business and related activities to UK engineering firm Smiths Group for an enterprise value of $710 million, the companies have said. Morpho Detection will become part of Smiths Group’s Detection division, which designs and manufactures sensors that detect and identify explosives, weapons, chemical agents and other contraband, Safran said in a statement.
“The threat environment for people and critical infrastructure around the world is constantly evolving and becoming more complex and sophisticated,” Smiths Group Chief Executive Andrew Reynolds Smith said.
Partially state-owned aerospace company Safran said that the deal was expected to close in early 2017.
