Electronics company OSI Systems announced Monday the completion of its acquisition of Morpho global explosive trace detection business from Smiths Group PLC.

The transaction was completed for $75.5 million in cash, though the final amount is subject to a net working capital adjustment, the company said.

"We are pleased to complete our acquisition of the ETD business," Deepak Chopra, OSI Systems' chairman and chief executive officer, said in a press release. "This business is an excellent strategic fit consistent with our expansion strategy enabling us to continue to provide compelling value and service to our customers worldwide."

Morpho and OSI Systems are both involved in providing cargo and passenger screening devices and related services.

Tweet

Saab, Lockheed win Army training simulation contact
Washington (UPI) Jul 10, 2017
Saab, in cooperation with Lockheed Martin, has won a U.S. Army contract for a combat vehicle training system. Saab said on Monday that its portion of the Vehicle Tactical Engagement Simulation System, or VTESS, award contract includes the provision of laser simulators, detectors and electronics to help troops conduct live combat exercises using existing vehicles and weapons systems. ... read more

Related Links
The latest in Military Technology for the 21st century at SpaceWar.com

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only