IN Groupe to acquire IDEMIA Smart Identity from Advent International.

IN Groupe, a secure identity solutions firm, agreed to acquire IDEMIA Smart Identity, a french multinational technology company, from Advent International, an American global private equity firm. Financial terms were not disclosed. "IDEMIA Group continues its solid development trajectory while implementing its ambitious strategy. We are reaching a decisive milestone with this project to sell IDEMIA Smart Identity, one of the leading providers of secure identity solutions, to create a market leading player. With €2.5bn in revenue, 12.5k employees, and 4k customers with its Secure Transactions and Public Security divisions, IDEMIA Group would embark on a new chapter in its history and remain focused on delivering mission critical solutions powered by biometrics and cryptography addressing specific market segments, and accelerating its future growth," Pierre Barrial, IDEMIA Group CEO.