France's Safran to buy US biometric ops: report
French aerospace and defence group Safran will buy the security business of US firm L-1 Identity Solutions, making it world number one in biometric identification, the Figaro daily reported on Monday.
Safran head Jean-Paul Herteman said in the report that his company would acquire the biometric, identity and recruitment operations of L-1 at a fair price of some one billion euros (1.30 billion dollars).
Herteman said the activities were profitable, growing and had an order book equal to three years of current sales -- put at some 500 million dollars.
Through the deal, Safran "becomes the world number one in biometric security ahead of NEC of Japan and Cogent of the United States", Herteman said.
Identity security is a fast growing market which analysts expect to expand by 15 percent a year through to 2015.
Last week, an aide to French Economy Minister Christine Lagarde told AFP that Safran was preparing an offer for SNPE Energy Materials.
© 2010 AFP