French conglomerate Safran S.A. is offering $300 million for Digimarc. According to Digimarc, Safran’s offer was unsolicited and, if accepted, would cover all outstanding stock of the company following the spin-off of the company’s digital watermarking business and cash on hand.

Safran would be purchasing Digimarc’s Secure ID business, which includes government ID products, which is used to issue 60 million citizen IDs (such as driver’s licenses) in 27 nations per year.

Digimarc said that it will evaluate the acquisition proposal, but indicated that it is looking for “a superior” offer. Digimarc’s market capitalization was about $264.4 million last Friday.