L-1 buys fingerprint biometrics biz
- By Doug Beizer
- Nov 15, 2006
L-1 Identity Solutions Inc. has acquired ComnetiX Inc., a biometric identification and authentication technologies company, for $12.5 million cash.
Under the terms of the agreement, L-1 Identity Solutions of Stamford, Conn., is expected to pay ComnetiX shareholders the specified sum for all shares of common stock that are issued and outstanding at closing.
ComnetiX offers fingerprinting services to the Canadian market. The company uses the services as part of tens of thousands of criminal background checks that it conducts yearly. The acquisition is expected to increase the revenue of L-1 Identity Solutions' fingerprint products and services.
The acquisition should close in the first quarter of 2007. The transaction will be submitted to ComnetiX security holders for approval at a special stockholders' meeting, to be held early next year.
ComnetiX was founded in 1980 and has contributed to the standardization of fingerprint-based biometrics. The company has helped FBI and other organizations develop standard protocols for transmitting electronic fingerprints.
ComnetiX operates more than 40 applicant fingerprinting locations throughout the United States. Its customers include Toronto Police Services, Criminal Intelligence Services Canada, New York Criminal Justice Services Department, Boston Police Department and others.
Doug Beizer is a staff writer for Washington Technology.