Safran buys GE's remaining stake in Morpho Detection

France-based technology company Safran announced this week that it has acquired General Electric’s residual 19 percent stake in Morpho Detection Inc. (MDI).

GE originally sold 81 percent of its Homeland Protection business, which later became known as Morpho Detection, to Safran in 2009.

According to a statement, the 19 percent stake is value at €90 million ($116.7 million), which will be purchased using the company’s available cash.

Morpho USA now owns 100 percent of Morpho Detection.