Idemia sale launch close, biometrics and digital ID business may be separated: report
The rumored sale of Idemia by Advent International is about to launch, sources have told Reuters, raising the possibility that one of the world’s largest biometric technology-makers and digital identity providers will have new owners this year.
Advent has chosen Goldman Sachs and Rothschild to conduct the sale, and they are expected to launch it in the immediate future.
The sources told Reuters that Idemia’s biometrics and digital ID business is prized, and could be bid on separately from the company’s other divisions.
A rough price estimate of 3 billion Euros (US$2.98 billion) for the biometrics and ID business is mentioned, plus another €1 billion for its SIM card business. No precise valuation has been completed as of yet.
The prospective sale is set to begin against the backdrop of year-to-date losses of 25 percent by the Nasdaq and 30 percent by the STOXX Europe 600 Technology Index. Reuters also suggests that higher interest rates tend to make tech companies less appealing to investors.
Any deal would likely require government clearance, but may not pose a barrier, Reuters’ sources said.