Morpho Detection Enters Agreement to Acquire Syagen Technology
Acquisition of mass spectrometry* technology development company strengthens MDI position as trace detection leader
Newark, Calif. – April 19, 2011
Morpho Detection, Inc., part of Morpho, Safran group's security business, today announced it has entered into a definitive agreement to acquire Syagen Technology, Inc. of Tustin, Calif. Syagen is a leading mass spectrometry technology development company for security applications.
The acquisition of Syagen strengthens Morpho Detection's (MDI) position as the industry-leading provider of explosives and narcotics trace detection solutions for the homeland security market. Combining Syagen's world class technologies with MDI's global commercial and service reach is expected to generate strong growth potential and offer enhanced explosives trace detection capability, especially against emerging non-conventional explosives threats.
"Syagen's unique mass spectrometry technology combined with Morpho Detection's patented Ion Trap Mobility Spectrometry® trace detection will help deliver the solutions customers need for detecting emerging, non-conventional explosives threats," said Dennis Cooke, president and CEO, Morpho Detection, Inc. "We are pleased to welcome Syagen's superb team of mass spectrometry technical experts and their world-class technology and entrepreneurial spirit to the MDI team."
"I am very proud of Syagen's accomplishments and the leading role we have played in the development of mass spectrometry technologies to meet some of our nation's most critical security needs," said Jack Syage, President and CEO of Syagen Technology, Inc. "We are excited to be part of Morpho Detection and look forward to being part of an organization that has such strong global reach and extensive commercial experience to bring our technologies to the security and defense markets."
MDI expects to operate Syagen as a mass spectrometry technical center of excellence, developing its next generation of explosives and narcotics trace detection systems for its high-profile public, private and government customers around the world.
The boards of directors for Syagen and MDI have approved the transaction.
The transaction is subject to Syagen's shareholder and regulatory approvals, including review by the Committee on Foreign Investment in the United States (CFIUS), as well as the satisfaction of other customary closing conditions.
*Mass spectrometry is an analytical technique used to determine the identity of molecules.
About Syagen Technology, Inc.
Syagen Technology, Inc. is an analytical instrumentation company developing mass spectrometry products and technology for high-speed molecular analysis for a broad range of chemical analysis applications, ranging from homeland security to pharmaceutical analysis. Syagen is a leader in developing innovative mass spectrometry products for airport checkpoints and air cargo screening and for defense applications. Syagen has also developed the PhotoMate line of Atmospheric Pressure Photoionization (APPI) sources sold through leading OEM manufacturers of Liquid Chromatography and Mass Spectrometry instrumentation.
Morpho, a high-technology company in the Safran group, is one of the world's leading suppliers of identification, detection and e-document solutions. Morpho is specialized in personal rights and flow management applications, in particular based on biometrics, a sector in which it is the world leader, as well as secure terminals and smart cards. Morpho's integrated systems and equipment are deployed worldwide and contribute to the safety and security of transportation, data, people and countries.
About Morpho Detection, Inc.
Morpho Detection, Inc., part of Morpho, a business of the Safran group (PAR: SAF), is a leading supplier of explosives and narcotics and chemical, biological, radiological, and nuclear (CBRN) detection systems for government, military, air and ground transportation, first responder, critical infrastructure and other high-risk organizations. Following Safran group's 2009 acquisition of GE Security's GE Homeland Protection, Inc. business, Morpho Detection integrates computed tomography (CT), Raman Spectroscopy, trace (ITMS™ technology), X-ray and X-ray Diffraction technologies into solutions that can make security activities more accurate, productive and efficient. With industry-leading products such as the Itemiser® DX trace detection system, the CTX line of explosive detection systems (EDS), and the StreetLab® Mobile hand-held chemical and biological substance identification unit, Morpho Detection's solutions are deployed to help protect people and property in some of the most important and sensitive world locations.