Safran to Sell Morpho – Biometrics Business Under Review
Safran SA will review its biometrics business after putting the Morpho airport explosives detection business onto the market. Safran had about $2 billion in sales last year from its security businesses – around $US350 million from explosives detection.
Partially state-owned, Safran said it was interested in expanding its aircraft equipment business which generates 28 per cent of revenue, as well as expanding its defense business.
The security business review, which covers identity cards and biometric solutions will take 6 months, Safran CEO Philippe Petitcolin told WSJ during the week. Options include retaining the business or selling it.
“We have never been able to find any kind of synergies with the rest of the security businesses,” Petitcolin said of the explosives detection business, which was bought from GE in 2009.♦