IN Groupe Acquires Portals Technology Business in Italy

IN Groupe, global specialist in identities and digital services and owner of SURYS, has announced that it has signed an agreement with UK-based Portals for the sale of papermaker Portals’ security components business in Bollate, Italy.

The sale of the Italian part of the business is the latest chapter in Portal’s story. Having taken the business out from parent De La Rue in 2018, the business experienced strong head winds and saw a significant adverse impact on its banknote paper business. It became clear that the change in the fortunes and priorities of De La Rue, still its largest customer, and the rising input costs, specifically of energy, set against the increasingly price competitive banknote paper marketplace, meant that its banknote paper business at Overton was no longer viable.