L-1 Identity, Safran merger given green light
The Committee on Foreign Investment in the United States (CFIUS) recently gave the go ahead to French defense firm Safran SA to close its bid for L-1 Identity for $1.6 billion
U.S. officials have approved the sale of Connecticut-based L-1 Identity Solutions to a foreign company.
<>The Committee on Foreign Investment in the United States (CFIUS) recently gave the go ahead to French defense firm Safran SA to close its bid for L-1 Identity for $1.6 billion.
The deal is expected to give L-1 access to Safran’s global infrastructure, deep research and development resources, and broader international reach.
The sale is for L-1’s Secure Credentialing Solutions, Biometric and Enterprise Access Solutions and Enrollment Services business units which develop systems for producing driver’s licenses, biometric systems, and other identities.
The deal was initially announced in September 2010, and now that all the legal hurdles have been cleared the two companies plan on completing the merger as soon as possible. Officials say the transaction will be complete within the next five days.
