France’s Safran Group recently said it has acquired the remaining stake in the explosives detection company Morpho Detection Inc. (MDI), that it did not already own, from General Electric [GE] for $117.9 million in cash.
Safran originally acquired 81 percent of GE’s former homeland security business in 2009 for $580 million in cash, leaving GE with a residual take in MDI, which it had pieced together through several acquisitions. MDI’s main products are explosives detection systems for automatically scanning checked baggage for explosives and explosive trace detectors.
MDI is part of Safran’s United States-based security subsidiary, Morpho USA.