IN Groupe negotiating to acquire identity document authentication firm SURYS
IN Groupe reports it has entered into exclusive negotiations with the shareholders of SURYS for its potential acquisition. SURYS is a French technology company that, among other things, provides solutions to ensure that national IDs, travel documents and drivers’ licences are easy to authenticate and hard to counterfeit.
A company statement by IN Groupe notes that SURYS expertise in authenticating and protecting the document variable data, with know-how in image analysis and fingerprinting algorithms, would complete IN Groupe’s global offerings in the field of identity and services, especially in security components for identity documents and banking activities, biometric solutions, digital identity offering, and traceability of sensitive products.
SURYS has more than 400 employees around the globe and is currently owned by Hugues Souparis, its founder and majority shareholder, together with private equity funds Abénex and Cathay Capital, and by its management. The company saw sales of $104M in 2018 and has facilities in France, Germany, the Netherlands and the United States plus sales offices in Poland and Dubai. 130 countries have adopted SURYS solutions and products.
The transaction is expected to close by the end of the second half of 2019 once the usual regulatory conditions are met.