Thales: could be interested in buying Idemia
(CercleFinance.com) - The private equity fund Advent is in negotiations to sell Idemia according to Les Echos.
The fund has mandated Rothschild and Goldman Sachs for this sale according to the daily. Idemia could be sold between E5bn and E6bn, i.e. 9x to 11x its 2022 EBITDA.
A low multiple for this type of asset can be explained by the strong rebound of Idemia's results in 2022 (+25%), as well as by the valuation of the payment activities (bank cards) which is lower than that of the biometrics activities, Invest Securities says.
Les Echos says that several private equity and industrial groups, including Thales and Assa Abloy, are considering this acquisition.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The fund has mandated Rothschild and Goldman Sachs for this sale according to the daily. Idemia could be sold between E5bn and E6bn, i.e. 9x to 11x its 2022 EBITDA.
A low multiple for this type of asset can be explained by the strong rebound of Idemia's results in 2022 (+25%), as well as by the valuation of the payment activities (bank cards) which is lower than that of the biometrics activities, Invest Securities says.
Les Echos says that several private equity and industrial groups, including Thales and Assa Abloy, are considering this acquisition.
Copyright (c) 2023 CercleFinance.com. All rights reserved.