Smiths looking for $200m buy
Smiths Detection has recently informed Venture Business Research that Smiths is now looking to make at least one acquisition valued at as much as $200 million
Smiths Detection, part of the Smiths Group, is a leading technology developer and manufacturer of sensors that detect and identify explosives, chemical and biological agents, weapons, and contraband. The company's technology also includes Smiths Heimann x-ray imaging systems, millimeter-wave technology and a specialist software supply business for the management of large sensor and video surveillance networks.
Smiths' customers include the military, first responders, transportation authorities, organisations responsible for protecting critical infrastructure and customs officials. In fact, Smiths' security solutions are deployed at 85 percent of the world's airports, which have around 70,000 customs checkpoints. In 2007 YTD the company has achieved sales in excess of £430 million, generating a profit of £78.6 million.
Tony McEnroe, Vice President Business Development, has recently informed Venture Business Research that Smiths is now looking to make at least one acquisition valued at as much as $200 million. In 2002 Smiths completed the acquisition of specialist X-ray business, Heimann Systems GmbH, for £235 million (Eur 375m) in cash.
According to Tony McEnroe, Smiths is now in a position to make an acquisition of a similar size in 2008. Smiths is focusing on businesses that either expand the company's technology base, specifically in the area of standoff detection/identification, or that add value to the company's current sensor and detection systems through integration and reduction in operational costs.
Standoff detection/identification technologies allow threats to be identified at a distance providing an early warning capability that allows at-risk personnel and assets, whether on the battlefield or during a terrorist incident, to take appropriate protective measures. Smiths currently have one product in this market - Telops FIRST is an infrared instrument for distance detection, identification and quantification of airborne chemical agents. Smiths is keen to expand on this product offering. The company is also looking to acquire IT platforms that allow the integration and automated analysis of data from a variety of sensors producing a more unified or "intelligent" output.
Please contact Tony McEnroe, VP Business Development on: tony.mcenroe@smithsdetection.com for more information on Smiths Detection.
Venture Business Research www.vbresearch.com
