Enlightenment Capital sells biometrics tech provider for $41M

Enlightenment Capital has sold a biometrics company it rebranded in the fall of 2022 to a publicly traded provider of background screening and identity verification for employers across the world.

First Advantage paid $41 million in cash to acquire Infinite ID in a transaction that represents the buyer's third aquisition since going public in 2021. Infinite ID should contribute approximately $10 million in annual revenue to First Advantage, the companies said in a Sept. 6 release.

Infinite ID is a provider of identity software and biometric solutions provider to federal, state and local government agencies in support of validation and background checks. The company launched under that brand and identity after a pair of acquisitions including PrintScan, a provider of fingerprinting and identity management software to government agencies including those in law enforcement.

Transaction number two for Infinite ID was the purchase of Laxton Group, which provides software and hardware systems for transaction-heavy programs in the election and law enforcement fields.

"This acquisition builds on our digital strategy with one of the most comprehensive digital collection networks in the industry and supports our ongoing commitment to providing high-value offerings that help keep our customers’ businesses safe,” First Advantage chief executive Scott Staples said in a release. “Infinite ID’s technology complements our other identity solutions, including RightID and Digital Identity Services, also enabling us to continue to improve the applicant experience."

Atlanta-headquartered First Advantage posted $810 million in sales for 2022 and provides its screening services in at least 200 countries and territories.

G Squared Capital Partners acted as the exclusive financial adviser to Infinite ID.