Advent makes a bid for Safran’s biometric identification unit
Reuters is reporting that private equity fund Advent has made a bid for Safran’s biometric identification unit Morpho with the aim to merge it with Advent-owned Oberthur Technologies.
In an interview with French newspaper Le Figaro, the head of Advent France, Cedric Chateau, said that the merger of the two firms could create a France-based world leader in secure authentification.
A Safran spokeswoman declined to comment on Advent’s offer.
In April, Safran agreed to sell its U.S.-based Morpho Detection business and related activities to UK engineering firm Smiths Group (SMIN.L) for $710 million. At the time, Chief Executive Philippe Petitcolin said Safran continues to assess the future of another security business that makes identity cards and biometric systems and that those units also could be put up for sale, according to a Wall Street Journal report.
Article Topics
biometric identification | biometrics | morpho | Oberthur Technologies | SAFRAN
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RT @BiometricUpdate: Advent makes a bid for Safran’s #biometric identification unit https://t.co/gGBZoyTgY0 @SafranIDSec