Amadeus announced on 29 April its intention to acquire IDEMIA Public Security, a French provider of biometric and identity systems to governments and companies, for €1.2bn in cash plus an earn-out of up to €150m.
Why Amadeus IT Group, S.A. is buying IDEMIA Public Security (IPS)
Amadeus said the deal would strengthen its biometric and identity capabilities and extend it into adjacent markets such as access control and government-grade biometric identification. It expects about €50m of annual cost synergies in the medium term and says its addressable market rises from €41bn to €50bn.
Deal terms and financing
The base consideration is €1.2bn, with an earn-out that could raise the total to €1.35bn, equal to 9.8 times IPS's expected 2026 EBITDA. IPS generated €711m of revenue and €112m of recurring adjusted EBITDA in 2025. Amadeus is financing the purchase from cash and debt facilities.
Regulatory approvals and timing
The transaction is subject to customary conditions including regulatory approvals, and completion is expected in mid-2027.
Market context
The purchase builds on Amadeus's €320m purchase of biometrics firm Vision-Box in January 2024. IPS has about 3,300 employees and more than 600 public and private sector customers.
