Advent in Talks to Sell Idemia Biometric Unit to IN Groupe (1)

Buyout firm Advent International is in exclusive talks to sell the European identity authentication business of Idemia to IN Groupe.

The French government, IN Groupe’s sole shareholder, supports the potential acquisition of Idemia Smart Identity, according to a statement on Thursday that confirmed an earlier Bloomberg News report. Financial details were not disclosed. A deal is expected to complete next year, subject to prior consultation with employee representatives and regulatory approvals.

Bloomberg News reported in March that the Idemia unit could be valued at as much as €1 billion ($1.1 billion) in a sale.

France-based Idemia was formed in ...