FB pixel

Safran narrows Morpho acquisition to five bidders

Categories Biometrics News  |  Trade Notes
 

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 Partners as potential buyers.

The report said that all five offers were worth about 2 billion euros (US$2.2 billion), with each bidder asked to follow up with a binding offer in September.

A Safran spokesperson declined to comment on the shortlist of bidders.

In late June, Safran said that it would likely eliminate a few of the 12 initial bidders before moving onto a second round of bidding in the fall.

Safran began the sale process of Morpho back in March as part of its overall strategy to focus more on airplane-engine manufacturing.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News

 

Groups reject expiry date for digital ID cards in Kenya as govt defends move

Some civil society organizations in Kenya say they want an explanation from the government with regard to the institution of…

 

Idemia forensic software extracts human faces, tattoos for investigative leads

Even when a facial recognition system is integrated within a state or federal investigative agency, human intervention is necessary. In…

 

Nearly three quarters of U.S. adults worry deepfakes could sway election: Jumio

The hour is ripe for political deepfakes. The U.S. presidential elections are still four months away, and the campaign has…

 

Controversial US privacy bill rewritten again, but path still unclear

The already controversial American Privacy Rights Act of 2024 (APRA), which was originally introduced in April by U.S. Senate Commerce…

 

Selective disclosure and zero-knowledge proofs: Examining the latest revision of ETSI TR 119 476

By Sebastian Elfors, Senior Architect at IDnow In July 2024, the European Telecommunications Standards Institute (ETSI) published an updated revision of…

 

Contractor needed for project to identify civil registration hurdles in Chad

A request for the Expression of Interest (EOI) has been launched for a consultancy firm to identify challenges that stand…

Comments

7 Replies to “Safran narrows Morpho acquisition to five bidders”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events