L-1 locks up Digimarc purchase

L-1 Identity Solutions Inc. has purchased all outstanding shares of Digimarc Corp., completing its acquisition of Digimarc's identification systems business.

In March, L-1 Identity Solutions said it would purchase Digimarc's identification systems business for $250 million in a cash and stock deal. But in June, L-1 signed an amended definitive merger agreement, which reassessed the value of Digimarc's ID systems business at $310 million.

Digimarc, based in Beaverton, Ore., provides solutions for protecting, managing and commercializing all forms of digital media, including government-issued identification cards. Its products and services result in the annual production of more than 60 million personal ID documents, including ID solutions for more than 25 countries.

L-1 Identity Solutions, of Stamford, Conn., announced Aug. 4 that it had successfully completed the initial tender offering period for the purchase of Digimarc common stock. A subsequent offering period expired Aug. 13.

Immediately following exercise of the option, Digimarc became a wholly owned subsidiary of L-1 and its name was changed to L-1 Secure Credentialing Inc. According to the company's previous announcement, Digimarc common stock will cease to be traded on the Nasdaq Global Market.

About the Author

David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.

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


  • POWER TRAINING: How to engage your customers

    Don't miss our Aug. 2 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More


    In our latest Project 38 Podcast, editor Nick Wakeman interviews Tom Romeo, the leader of Maximus Federal about how it has zoomed up the 2019 Top 100. 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.