Morpho Detection To Acquire Syagen Technology
Morpho Detection Inc., part of Morpho, Safran group’s security business, recently 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 a provider of explosives and narcotics trace detection solutions for the homeland security market. Combining Syagen’s 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 of 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.