Safran Identity & Security CEO discusses acquisition and other new developments
In a Q&A interview posted on the company’s website, Safran Identity & Security CEO Anne Bouverot discusses company highlights over the past year, new developments, and the pending acquisition by Advent.
Bouverot explains that the company has worked to determine the business orientations that will benefit it and help develop its future.
This includes accelerating the digitization of its ongoing activities, as well as positioning itself in dynamic markets which will drive technological synergies and growth across both governmental and commercial sectors.
Safran Identity & Security has also defined a new purpose of enabling “trusted identities in a connected world”, through secure identification and authentication.
Bouverot also discussed the pending sale of the company. Last month, Safran entered exclusive negotiations to sell Safran Identity & Security to U.S. private-equity firm Advent International Corp. for $2.43 billion euros ($2.7 billion USD).
Advent intends to “combine the two companies to create a world champion in identification technologies and digital security,” Bouverot said.
The acquisition will aim to create “an alliance of equals,” drawing on OT’s digital embedded security experience as well as Safran’s expertise in biometrics, identity and public security, according to Bouverot.
In addition, Advent has committed to sustaining a high level of investment in Safran’s core markets, as well as to help the company develop in areas like biometrics, authentication, embedded security for IoT, and video and data analytics, Bouverot said.
“We expect the transaction to close by mid-2017, after government approvals in France and the US and anti-trust clearance in a number of markets,” said Bouverot. “During this period, business will continue as usual, thanks to the support of our teams in the 57 countries in which we operate.
“I am very proud of the motivation and engagement that they have demonstrated during this whole process. Through innovation in dynamic areas, we will preserve our longstanding heritage as a leader in both security and identity markets.”
Previously reported, Safran Identity & Security is opening a new facility featuring an innovation center with a specific focus on digital payment, digital identity and the Internet of Things (IoT) in the Silicon Valley at the end of 2016.