Smiths Detection has enabled the launch of an automated International Remote Baggage Screening System between South Korea and the United States, led by Incheon International Airport Corporation. The system allows US Customs and Border Protection to screen checked baggage remotely before passengers land, eliminating traditional reclaim-and-recheck processes and reducing connection times by up to 20 minutes. The platform uses Smiths Detection's SecurePort-IRBS-K software with 22 licenses, integrated with HI-SCAN 10080 XCT computed tomography systems at Incheon's Terminal 2. Currently operational on the Atlanta route since August 2025, the system will gradually expand to Minneapolis, Seattle, Los Angeles, Detroit and Salt Lake City. The deployment represents the first fully automated, DICOS-based baggage screening workflow between two sovereign countries.

CVC announces acquisition of threat detection and security screening technology company Smiths Detection for £2 billion. CVC, a private markets investment firm, has announced that it has entered into an agreement to acquire Smiths Detection, a threat-detection and security-screening technology company for airports and critical infrastructure, from Smiths Group plc. Headquartered in the UK, Smiths Detection employs 3,400 people, including over 1,100 field service engineers and over 500 R&D professionals and operates from facilities across Europe, the US and Asia. The business has a global #1 position in aviation security - i.e. screening technology for carry-on bags, hold luggage, and air cargo at airports - where it serves 47 of the world's top 50 airports, with both industry-leading hardware and sector-leading digital capabilities, including automated detection algorithms. Smiths Detection also serves other critical infrastructure end markets such as urban security (screening systems for government and commercial buildings, public venues and spaces) and ports and borders (cargo and vehicle inspection) and the business has a leading niche chemical threat identification capability for defense end markets. Dominic Murphy, a Managing Partner and Co-Head of the UK private equity team at CVC and Conor Keogh, Managing Director at CVC, said: "Smiths Detection's industry-leading threat detection and security screening technologies play a crucial role in helping protect people and critical infrastructure worldwide. We look forward to supporting the business during the next phase of its growth and development through continued investment in technology innovation, high-quality engineering and best-in-class aftermarket service." James Mahoney, Partner and Head of CVC's private equity activities in the Aviation, Defence & Space sectors added: "We are excited to partner with Jérôme de Chassey and his team. Smiths Detection's strong market positions, anchored by its global leadership in aviation, create a compelling platform for long-term value creation." The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026. Barclays acted as financial advisor and Latham & Watkins acted as legal counsel to CVC. The investment will be made through CVC Capital Partners IX.

HSBC Holdings has appointed Brendan Nelson as group chair following a selection process that considered internal and external candidates. Nelson, who joined HSBC's board in 2023 and served as interim chair since October, previously worked at KPMG and held board positions at BP and Royal Bank of Scotland. Smiths Group has agreed to sell Smiths Detection to funds advised by CVC Capital Partners for an enterprise value of £2 billion. The London-based engineering firm expects net cash proceeds of around £1.85 billion, with completion anticipated in the second half of 2026. Combined with the recently announced sale of Smiths Interconnect, the transaction repositions Smiths as a focused industrial engineering company. The firm intends to return a large portion of proceeds to shareholders.