IDEMIA SMART IDENTITY acquired by IN GROUPE
Context
IN Groupe successfully finalized the acquisition of IDEMIA Smart Identity to establish itself as a global leader in secure identity solutions and trust services. This transaction, the largest in IN Groupe's history, significantly scales the group’s operations, tripling its workforce to 4,000 employees and pushing consolidated revenues above €1 billion. The deal is strategically designed to merge the geographical, commercial, and technological complementarities of both entities, creating a dominant European champion capable of competing on a global scale. By internalizing IDEMIA Smart Identity's expertise, IN Groupe strengthens its control over the entire identity value chain and accelerates its international growth, particularly in the expanding digital identity and "phy-gital" markets.
IDEMIA SMART IDENTITY, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (15.3x).
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Target
IDEMIA Smart Identity is a global specialist in physical and digital identity solutions, providing high-security identification systems for both public and private sector clients. The organization manages a comprehensive portfolio of products ranging from biometric identification and secure documents to advanced software for identity management. By focusing on the integration of hardware and software, the provider enables governments and large corporations to secure citizen data and professional identities across international borders. Its expertise is deeply rooted in digital identity leadership, offering a complementary technological suite that addresses the evolving needs of the global security market.
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REFERENCES
Valuation range: EV 500M - 1.5b EUR
Revenue range: 450M - 900M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Acquirer: in groupe