Smiths Group completes divestment of Morpho Detection’s former trace business

Smiths Group plc (“Smiths Group”) today announces that it has completed the sale of the explosive trace detection business formerly owned by Morpho Detection (the “Trace Business”) to OSI Systems, Inc. for an enterprise value of $75.5 million, subject to customary working capital adjustments. The proceeds will be reinvested in attractive growth opportunities.

As previously announced, in connection with its acquisition of Morpho Detection from Safran, Smiths Group had made commitments to the European Commission and the Department of Justice to sell the Trace Business.