Aerospace to medical products group Smiths was back on the acquisition trail yesterday, adding to the range of technologies offered by its detection division by acquiring ETI Technology, a USbased privately owned company that specialises in the detection of harmful biological agents.
Smiths, which has a number of aerospace plants in the West Midlands, is acquiring the business for £2.185 million in cash, plus a deferred performancerelated consideration up to a maximum of £2.45 million. The deal is subject to US regulatory approval.
ETI has developed optical sensors that perform initial screening to identify and classify harmful agents.
Smiths says this capability will enhance the equipment used by military forces, by emergency response teams and in critical infrastructure applications.
The company was formed in 1997 in Boston and holds multiple US patents and patent applications.
Smiths Detection has already worked closely with ETI, for two years, on a major UK military programme.
Keith Butler-Wheelhouse, chief executive of Smiths Group, said: "The acquisition further strengthens the position of Smiths Detection as a technology leader.
"The application of techniques developed by ETI will add new capabilities to the activities offered by Smiths Detection in both the civil and military markets."
Stephen Phipson, group managing director at Smiths Detection, added: "ETI has a very successful record, providing new technologies that will enhance our bio product range," he said.