By Reuters

(Reuters) - Spanish travel technology firm Amadeus on Wednesday announced a plan to acquire French ‌biometrics company Idemia Public Security, which is ‌owned by private equity Advent International, for 1.2 billion euros ($1.40 ​billion) in an all-cash deal.

Amadeus, which operates the world's largest travel booking system, described the acquisition as immediately earnings-accretive, expecting it to accelerate its growth ‌in airports and ⁠border checkpoints while enhancing the firm's global presence.

The combination of the two businesses ⁠should increase Amadeus' total addressable market, or total revenue opportunity, to 50 billion euros from 41 billion, ​it said.

The ​closing of the deal ​is expected in mid-2027 ‌and it includes a potential earn-out of up to 150 million euros on top of the price.

Amadeus expected the acquisition to result in high single-digit revenue growth with expanding operating margins, and provide ‌annual cost synergies of ​50 million euros in the ​medium term.

IPS employs ​around 3,300 people worldwide and serves more ‌than 600 public and ​private sector customers. ​Aside from passenger processing, IPS works with other regulated environments such as access control and ​government-grade biometric ‌identification and data solutions.

($1 = 0.8548 euros)

(Reporting by Javi ​West Larrañaga in Gdansk, editing by Andrei ​Khalip and Louise Heavens)

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