Advent Said to Eye Sale of Idemia Identity Unit in New Exit Push

Buyout firm Advent International is looking to sell the European identity authentication business of Idemia as part of a breakup plan that will see each of the French biometrics company’s three units being sold separately, people with knowledge of the matter said.

Advent is working with banks to launch an auction process in the coming weeks, the people said, asking not to be identified as the matter is private. The operation could be valued at up to €1 billion ($1.1 billion), the people said.

A spokesperson for Advent declined to comment.

The sale will gauge appetite for one of Europe’s ...