Advent International is advancing plans for a potential sale of Idemia’s public security division, according to a report by Bloomberg citing sources close to the matter, following the recent disposal of the French biometrics firm’s smart identity business.
The US private equity firm, working with Rothschild & Co as advisers, could launch a formal sales process as early as September. The unit, which delivers biometric and security services including facial recognition and airport security solutions, is expected to command a valuation in the region of €2bn to €3bn ($2.3bn to $3.4bn), the sources said.
Interest in the public security business is anticipated to come from strategic buyers in aerospace and defense, alongside financial sponsors active in security and technology sectors.
While discussions continue, Advent has not ruled out retaining the asset for a longer horizon. Neither Advent nor Rothschild commented on the ongoing process.
This move follows Advent’s strategic reorganisation of Idemia’s core operations – smart identity, public security, and secure transactions – into separate standalone entities. On 1 July, French identity solutions firm IN Groupe completed its acquisition of the smart identity unit.
Advent originally formed Idemia in 2017 by combining Safran SA’s identity and security business with Oberthur Technologies, which it acquired in 2011.
Idemia’s public security arm employs around 3,800 staff worldwide and plays a key role in law enforcement and public safety, with a strong US footprint enabling fingerprint submissions and criminal record processing in partnership with the FBI.
