Safran Gives Advent Green Light For $US2.7 Billion Sale of Identity and Security Business
SAFRAN is negotiating to sell its Morpho identity and security business to U.S. private-equity firm Advent for an $2.7 billion.
Advent plans to merge Morpho with smart cards and security identity systems provider Oberthur Technologies, to create a group headquartered in France with $US3.15 billion in revenue. This sale comes after Safran sold Morpho Detection, its explosives detection business, to British tech house Smiths Group.
According to Safran, the identity and security business had revenue of $1.8 billion in 2015 and employs 7,800 people in more than 50 countries. ♦