Howden and Linklaters are advising Spanish company Amadeus to buy Vision-Box

Howden (on the financial advisory side) and Linklaters (on the legal advisory side) are collaborating with Amadeus, a Spanish technology company listed on the Madrid Stock Exchange, in the recent acquisition of Portuguese company Vision-Box for €320 million.

The transaction is subject to customary regulatory approvals and is expected to close in the first half of 2024.

Francisco Alvim, head of M&A at Howden, revealed on Linkedin that the mergers and acquisitions (M&A) team in Lisbon advised Amadeus Group on the acquisition of Vision-Box, a provider of biometric solutions for airports, airlines and border control.

Vision-Box, a company with expected revenues of €70 million and EBITDA of €20 million in 2023, is partly owned by Keensight Capital, a Private equity Focused on European investments Capture growth.

Amadeus will acquire the entire Vision-Box business, through a private transaction, for an agreed price of approximately €320 million. As part of this acquisition, approximately 470 Vision-Box employees will join Amadeus.

“This was a complex, multi-jurisdictional transaction, where we acted as M&A underwriting advisors, providing assistance in structuring and developing a transaction risk solution for the deal. “The use of these solutions in Portugal continues to grow,” reveals Francisco Alvim, of Howden.

According to a statement issued by Amadeus, the use of biometrics in border control is expected to grow significantly in the coming years. The Biometrics Research Group estimates that the global biometrics industry will reach $86.1 billion in 2028, up from $47.8 billion in 2023. This growth is being led by a travel sector that is increasingly focused on digitalization to improve the travel experience, address operational pressures and comply with regulatory requirements. .

Amadeus highlights that the acquisition of Vision-Box “will provide new capabilities in the biometric hardware and software environment, adding border control solutions to the Amadeus product line, which will now be able to offer a complete and complex passenger experience, from booking to arrival.” At the destination. The airport, through border control and boarding.”

This acquisition will contribute to Amadeus' goal of being part of an integrated ecosystem connecting the travel industry. In this sense, this deal will enable exceptional biometric interoperability between airports, airlines and border control authorities. Moreover, it will complement and enhance existing value propositions Provided by Amadeus to airlines and airports, which focuses on providing a simple experience for all passengers, improving operations, and managing incidents effectively.

This (biometric data and artificial intelligence in the field of passenger monitoring and airport security) is a sector that is on the agenda when it comes to M&A activity and in terms of volume it will certainly be one of the largest in Portugal this year.