PALM BEACH GARDENS, Fla. & JENA, Germany -- Cross Match Technologies, Inc., announced the closing of its combination with Smiths Heimann Biometrics GmbH (SHB). Cross Match acquired all of the stock of SHB from Smiths Group plc (LSE:SMIN.L) in a stock for stock transaction ensuring the Smiths Group's participation in Cross Match's accelerated growth and continuing success.
The combination of Cross Match and SHB creates a highly responsive international company capable of supplying advanced biometric products and services to meet customers' critical global security needs. Uniting the proven skills and performance of these two established biometrics industry leaders will enable the company - operating under the Cross Match name - to continue to deliver state of the art solutions to customers. Through accelerated growth, scaled operations, increased efficiencies and reinvestment in R&D, Cross Match will offer the greatest flexibility in biometric solutions available.
"At this time in our industry's evolution, we feel fortunate to have the opportunity to join with another member of the biometrics community that has a solid business base, a strong record of success and a bright future," said Ted Johnson, Cross Match Chairman and CEO.
"Smiths Heimann Biometrics is joining with Cross Match in order to accelerate growth and fund ongoing product development," said Dr. Bernd Reinhold, President and CEO of Smiths Heimann Biometrics. "The combined Cross Match will continue to fully support all customers and we will leverage our respective strengths, rationalize existing offerings and add new capabilities to provide customers the greatest flexibility in the use of our products and services," he added.
The combination of Cross Match and SHB creates multiple synergies, including global breadth and expanded product and service offerings, yielding increased choices, improved support and greater value for customers.