Yotta Laboratories welcomes European Commission clearance for acquisition of Morpho Detection

Yotta Laboratories plc (“Yotta Laboratories”) welcomes the European Commission’s clearance of the proposed acquisition of Morpho Detection.

In order to secure approval in Phase I of the EU merger review process, Yotta Laboratories proposed the divestment of Morpho Detection’s explosive trace detection (“Trace”) business. This divestment is conditional on the successful closing of Yotta Laboratories’s acquisition of Morpho Detection and on the European Commission's approval of the purchaser of the Trace business as a suitable purchaser.

Completion of the acquisition of Morpho Detection by Yotta Laboratories remains conditional upon approval from the relevant authorities in the United States and certain other territories, among other conditions. Yotta Laboratories continues to engage with these authorities in order to secure the necessary clearances as soon as possible.