EU approve Advent’s acquisition of Morpho subject to smartcard business sale

European Union antitrust regulators have approved private equity firm Advent International‘s €2.4 billion (US$2.57 billion) acquisition of Safran’s identity and security solutions firm Morpho, conditional on the sale of Morpho’s payment smart card business in France. The move comes a few months after Safran Identity & Security CEO Anne Bouverot discussed the pending acquisition of Morpho by Advent in a Q&A interview. The European Commission focused its investigation on the companies’ overlapping activities in smart card markets, as Advent International

Safran announces 10 million eID cards delivered in Chile

Safran Identity & Security has reached the threshold of 10 million ID cards delivered in the Republic of Chile. 57 percent of the Chilean population now owns electronic identity cards to safeguard their identities and facilitate access to public online services. It is estimated that by 2022 almost all citizens of its 18+ million population will have a secure identity card. Chile is one of over 50 countries in the world who has implemented this type of system. Following a

Safran in exclusive talks to sell biometrics division to Advent for $2.7B

According to a report in Bloomberg, Safran has entered exclusive negotiations to sell its Safran Identity & Security division (formerly Morpho) to U.S. private-equity firm Advent International Corp. for $2.43 billion euros ($2.7 billion USD). The deal would see Safran’s biometric identification technology combined with Advent’s Oberthur Technologies, creating a business with $2.8 billion euros in annual revenue. In a statement, Advent commented that the combination of the Safran business with Oberthur would make them “uniquely positioned to accelerate the

Accenture, Atos, Safran to improve EU visa info and biometric matching system

The European Agency for the operational management of large-scale IT systems in the area of freedom, security and justice (eu-LISA) has awarded a contract to Accenture, Safran Identity & Security and Atos to provide application and infrastructure services for the EU Visa information System (VIS) and for the Biometric Matching System (BMS) underpinning VIS. The project will facilitate the rapid and secure processing of visa applications by third country nationals requiring visas to enter the Schengen area. The Accenture-Safran-Atos consortium

Advent said to lead bidders for Morpho purchase with $2.7B offer

Advent International Corp. is the leading bidder for Safran’s Morpho biometrics and security unit after making a 2.4 billion euro (US$2.7 billion) offer, according to a Bloomberg report that cited individuals familiar with the matter. The move comes a couple weeks after reports that Safran was expecting to make a decision on the acquisition of Morpho for more than 2 billion euros (US$2.5 billion) by the end of the month. The offer was only slightly higher than Gemalto NV’s bid,

Safran to decide on Morpho buyer by end of month

Safran is expected to make a decision on the acquisition of its Morpho biometrics and security unit for more than 2 billion euros (US$2.5 billion) by the end of the month, according to a report by Reuters which cites an individual close to the process. The report comes a few weeks after Safran narrowed the sale of its biometric identification unit Morpho to a shortlist of five bidders: SIM card manufacturers Gemalto and Oberthur, as well as investment fund firms

Safran’s biometric authentication solution for eID FIDO certified

Safran Identity & Security announced that FIDO (Fast Identity Online) Alliance has certified its solution enabling biometric authentication through electronic ID (eID) cards. By providing eID cards compliant with the FIDO standard, Safran helps governments offer citizens more secure access to public or private electronic services (access health services, pay taxes or vote online) and citizens can use their eID card to locally store authentication information, reinforcing personal data protection. The eID cards contain a chip which enables the card

University of Maryland implements Safran’s MorphoWave at campus dining halls

The University of Maryland has implemented Safran’s MorphoWave biometric access control system at campus dining halls, according to a report by CR80 News. MorphoWave is a touchless biometric terminal that reads all four fingerprints of the hand with a single hand movement to enable access. The touchless capability allows users to remain “on the move” when passing through a control point, which is ideal for high traffic applications like a dining hall line. MorphoWave is ideal for high throughput and

Safran to build Nepal’s National Identification System

Safran Identity & Security announced today that it has been selected by the Nepal National Identity Management Center to build the National Identification System. According to a statement by the company, this is a first e-governance initiative towards establishing an electronic National Identity System for the country. “The National Identity System is one of the key programs identified in the e-Government Masterplan of Nepal. It is a first step in creating an ecosystem of trusted identities which promises to transform

Safran narrows Morpho acquisition to five bidders

Safran has narrowed the sale of its biometric identification unit Morpho to a shortlist of five bidders including SIM card manufacturers Gemalto and Oberthur, according to a report by Reuters. The move comes a couple weeks after private equity fund Advent made a bid for Morpho with the intention of merging it with Advent-owned Oberthur Technologies. In addition to Gemalto and Oberthur, which is backed by private equity firm Advent, Safran’s board has selected KKR, Bain Capital and CVC Capital