HID Global completed the acquisition of approximately 98.5% of Evolis through a two-step process. First, HID acquired a majority block of 98.5% of the shares from the founding shareholders (Cedys & Vesta) and certain managers at a price of EUR43.75 per share. Following this block trade, HID launched a mandatory simplified tender offer for the remaining minority shares at the same price. Having surpassed the 90% ownership threshold, HID implemented a squeeze-out and delisted Evolis from Euronext Growth. The acquisition allowed HID to significantly expand its printer portfolio and geographic reach in the secure identification market.

EVOLIS, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 13.1x average currently observed in the TMT (Tech, Media, Telecom) sector.

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