OSI Systems completes acquisition of explosive trace detection business
OSI Systems, Inc. of Hawthorne, CA announced on July 10 that it has completed its previously announced acquisition of the former Morpho global explosive trace detection (ETD) business from Smiths Group plc for $75.5 million in cash, subject to a net working capital adjustment.
Deepak Chopra, the company’s chairman and chief executive officer, said, “We are pleased to complete our acquisition of the ETD business. 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.”
Source: OSI Systems, Inc.