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European Regulators Approve Advent International Deal For Safran’s Identity Business

Cal Biesecker By
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The European Commission on April 19 cleared the proposed $2.7 billion acquisition by Advent International of Safran Group’s Morpho identity solutions enterprise with the one condition that Morpho’s smart card payment business in France be divested.Advent and Safran agreed that Morpho’s French subsidiary CPS, which supplies payment smart cards to banking customers in France, will be divested to maintain competition in Europe.Advent International, a U.S.-based private equity firm, last October announced the agreement for Safran’s biometrics and identity solutions business,…

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