Brady acquires security ID company GE IDenticard

Published 10 February 2006

A Milwaukee veteran in the security market acquires Identicard, a company which only last year was acquired by GE

Milwaukee, Wisconsin-based Brady Corporation (NYSE: BRC), a developer of identification solutions, has acquired Lancaster, Pennsylvania-based GE IDenticard Systems and its Canadian affiliate, Markham, Ontario-based IDenticam. Terms of the transaction were not disclosed.

IDenticard was founded in 1970 and has gained a reputation in personal identification, access control, and consumable identification badges. It is an innovator in security card technology. Its products include identification card systems which combine biometrics, digital imaging, and other technologies. Its access control systems restrict entry into buildings using multiple card-reader technologies.

The companies, with 120 employees in the United States and 36 in Canada, have over 30,000 customers in healthcare, education, government, and manufacturing. They had combined 2005 sales of about $33 million. The two companies have a second owner in as many years: IDenticard and IDenticam were acquired by GE in March 2005 as part of its acquisition of Edwards Systems Technology.

Brady Corporation is a leading manufacturer and marketer of complete security solutions. Brady employs about 5,500 people in operations in the United States, Europe, Asia/Pacific, Latin America and Canada. Brady’s fiscal 2005 sales were approximately $816 million.

-read more in this news release; and see Identicard Web site