Viisage and Identix, two of the most notable names in identity authentication and biometrics, are becoming one.
The companies have announced that they will merge entirely together in an all-stock transaction reportedly worth $770 million. The new company should have revenues of $220 million, and will be able to offer solutions in a variety of biometric scenarios, including finger, face, skin and imaging.
Robert LaPenta, who recently left L-3 Communications to start L-1, his technology investment company, seemed to forecast the merger when in June 2005, he told SecurityInfoWatch.com that he was seeking to create a biometrics market share leader.
"Not only is the biometric industry ripe for consolidating -- there is good technology but the companies are undercapitalized -- but it's really just emerging," said LaPenta. "There is a chance to create a dominant player in a rapidly growing market."
And so it seems, he has. LaPenta is already calling the merged company a 'global leader' in its field.
â€œThe combination of Identixâ€™ advanced multi-biometric search technology with Viisageâ€™s expertise in secure credentials, document authentication and verification will create a global leader in biometric security, providing end-to-end identity solutions for state, local, national and foreign government use, as well as a wide application across the commercial sector,â€ said LaPenta in a statement announcing the merger. â€œWith its proven technology, strength of management and services, and marquee customer base, the combined entity has the ability to achieve significant revenue growth and profitability.â€
Once the merge is completed, Dr. Joseph Atick, CEO of Identix will become the vice chairman of the combined Identix/Viisage board of directors. He will also serve as the Chief Strategic Officer for the merged company.