Chinese financial technology giant Ant Group Co Ltd (6688) is planning a sale of its United States based biometric security company EyeVerify. This development was first reported on Financial Times.
According to Financial Times, Ant is already engaging some potential buyers from the United States. Insider sources which declined being revealed disclosed that Ant Group is looking forward to close a deal before the first half of the year is over.
Ant Group which is backed by Alibaba Group Holding (BABA) is contemplating such a move at a time when tensions are increasing between the United States and China concerning Chinese technology companies.
Ant purchased EyeVerify in 2016 in a deal worth $100 million, this purchase deal was approved by the Committee on Foreign Investment in the United States (CFIUS) which is the body in charge of scrutinizing deals which might pose a potential risk to national security.