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Idemia digital ID unit could be sold off first for €1.1B: report

Categories Biometrics News  |  Trade Notes
Idemia digital ID unit could be sold off first for €1.1B: report
 

The Smart Identity wing of Idemia could be the first domino to fall in a piece-by-piece sell-off by owner Advent, in a deal worth up to a billion euros (US$1.1 billion), Bloomberg reports.

Anonymous sources told the publication that Advent is gauging the market’s appetite for the European biometrics giant’s assets, following an unsuccessful attempt to sell Idemia in one massive deal last year. That attempt faced potential antitrust hurdles with some prospective buyers, like Thales. The price was also reportedly a stumbling block.

The price rumored for Idemia last year was €6 billion, but Thales was rumored in 2022 to be interested in acquiring Idemia at a price in the €3 billion to €4 billion range.

Idemia Smart Identity makes physical and digital IDs, including mobile driver’s licenses (mDLs), though not for the U.S. market. That part of the business was merged with Idemia Identity and Security North America, the regional equivalent of Idemia Public Security.

Idemia was split into Smart Identity, Public Security and Secure Transactions divisions earlier this year

Bloomberg’s sources suggested that the other divisions, which focus on biometrics for security and payments, would be sold later on.

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