Deals
Safran to Sell Biometrics Arm to Advent for $2.7 Billion
- Unit will be combined with U.S. firm’s own Oberthur operation
- Government fund to stake in combined entity after transaction
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Safran SA is in talks to sell its identity-verification operations to U.S. private-equity firm Advent International Corp. for 2.43 billion euros ($2.7 billion) as the French maker of jet engines and space launchers narrows its focus to aerospace and defense.
The deal would unite Safran’s biometric identification technology with the security-software activities of Advent’s Oberthur Technologies, creating a business with 2.8 billion euros in annual revenue.