L-1 to buy Digimarc's ID assets

L-1 Identity Solutions Inc. will purchase the identification systems business that belongs to Digimarc Corp. for $250 million in a cash and stock deal.

The agreement calls for Digimarc stockholders to receive about 50 percent of the purchase price in shares of L-1 stock and the other 50 percent in cash.

Digimarc stockholders also will receive shares in a new company bearing the Digimarc name. That company will consist of Digimarc's digital watermarking business.

The acquisition will enable L-1 to combine Digimarc's expertise in centralized production of credentials with L-1's capabilities in biometric recognition and document authentication capabilities, said Robert LaPenta, L-1's chairman and chief executive officer.

As a result, L-1 will be able to offer customers a comprehensive array of services for issuing government credentials such as driver's licenses, he said.

When the transaction closes, L-1 said it expects to have revenues of about $670 million. The deal is expected to close in the second half of 2008.

Digimarc is based in Beaverton, Ore. L-1, which is headquartered in Stamford, Conn., offers products and solutions for protecting and securing personal identities and assets.

About the Author

William Welsh is a freelance writer covering IT and defense technology.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.