Tag: Safran
Smiths Group to pay $710m for Morpho Detection
April 28, 2016SSN Staff
LONDON—Smiths Group, a global technology company based here, announced April 21 it has an agreement to acquire Morpho Detection from Paris-based Safran for $710 million.Based in Newark, Calif., Morpho Detection had $320 million in revenues in 2015, and an operating margin of 18 percent, with aftermarket services including software representing more than half of total revenues, according to Smiths Group. It has 860 employees and Morpho Detection had gross assets of $699 million.Morpho Detection...
The old L-1 has morphed into MorphoTrust
April 6, 2012Martha Entwistle
BILLERICA, Mass.—L-1 Identity Solutions, acquired last year by international conglomerate Safran, has been reorganized and in February was reintroduced as U.S.-focused MorphoTrust.MorphoTrust CEO Bob Eckel told Security Systems News that the company expects to have $400 million in revenue this year and has more than 1,100 employees.L-1, founded by Robert LaPenta, grew by acquiring several biometrics-based companies, beginning in 2005. Since the Safran deal was finalized last August, Eckel has...
Safran, L-1 merger gets final go-ahead
July 20, 2011SSN Staff
PARIS—Safran has cleared the last hurdle in its acquisition of L-1 Identity Solutions, a Stamford, Conn.-based biometrics company, and expects to close the deal by the end of next week.
Final approval came from the Committee on Foreign Investment in the United States, which yesterday notified Safran, based in Paris, that its investigation of the transaction is complete and it found no unresolved national security concerns. With this latest approval behind them, the companies expect to complete...
Safran to buy L-1 for $1.09b cash
September 23, 2010Martha Entwistle
PARIS—Biometric giant L-1 Identity Solutions, which announced in March it was for sale, has a buyer: Safran, based here, announced Sept. 20 that it would acquire L-1 and its biometric and enterprise access solutions, secure credentialing solutions and enrollment services business in a $1.09 billion cash deal.
L-1 is separately selling its intelligence services business to British defense contractor BAE Systems for $296 million. Both deals are subject to U.S. regulatory approval.
The businesses...