Safran starts exclusive talks with Advent for Morpho unit: Reuters

France’s Safran has entered into exclusive negotiations with the owner of smartcard maker Oberthur Technologies over the sale of its Morpho business, the aerospace and defense company said on Thursday.

The potential deal with Advent International would value the identity and security business at 2.425 billion euros, Safran said in a statement.

French SIM card maker Gemalto had also been among bidders interested in the assets being sold by Safran, while private equity fund Advent wanted to acquire the biometric business and merge it with Oberthur, which it bought in 2011.