Advent Is Nearing Sale of Idemia Biometric Unit to IN Groupe [BNN Bloomberg (Canada)]
SAFRAN SA UNSPON/ ADR (SAFRY)
NASDAQ:AMEX Investor Relations:
safran-group.com/finance/investor-relations
Company Research
Source: BNN Bloomberg
A sale could be announced as soon as this week, the people said, asking not to be identified because the matter is private. A final agreement hasn't been reached and the details could still change, the people said. Bloomberg News reported in March that the Idemia unit could be valued at as much as €1 billion ($1.1 billion) in a sale. Representatives for Idemia and IN Groupe didn't immediately respond to requests for comment outside regular business hours in France. A spokesperson for Advent declined to comment. France-based Idemia was formed in 2017 when Boston-based Advent purchased Safran SA's identity and security business and combined it with Oberthur Technologies, a company it acquired in 2011. Idemia's identity business makes physical and digital credentials for identity cards, passports and driving licenses. A sale of one of Europe's biggest biometrics providers would follow an attempt to sell the entire company that fell through last year over price differences, Bloom
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