The group Safran has entered into exclusive negotiations with the American Fund Advent International, owner of Oberthur Technologies for the sale of its Identity and Security subsidiary, ex-Morpho. Several candidates were in the running.
But why would they want to sell that division which is specialized in biometric identification (finger prints, iris and facial recognition) when the security sector is booming?
Philippe Petitcolin, chief executive officer – Safran group: watch the interview in the video.
Oberthur Technologies on the other hand are market leaders in digital security. They excel in this field and with this buyout, will become a world leader for identification technologies. The sale will bring in 2,4 billion Euros and should be finalised in 2017.