France’s Safran to buy US biometrics and security firm L-1 Identity Solutions for $1.1 blnBy AP
Monday, September 20, 2010
Safran to buy US biometrics firm for $1.1 bln
PARIS — Safran SA says it will pay $1.1 billion to buy Stamford, Connecticut-based security firm L-1 Identity Solutions Inc. to bolster its presence in the U.S. homeland security market.
Paris-based Safran says the combination of L-1’s biometric and enterprise access businesses with its existing U.S. security business, Morpho, will have joint sales of about euro1.4 billion ($1.8 billion), with U.S. sales accounting for almost half of that.
Safran announced the acquisition in a statement Monday.
Tags: Biometrics, Europe, France, North America, Paris, United States, Western Europe