Viisage And Identics In Us770 Million Merger
The companies have not determined a new name for the merged firms. Viisage, which also manufacturers biometric identity solutions, says it will blend its approach with Identix’s. Viisage Chairman of the Board Robert LaPenta, who will serve as chairman and CEO of the combined companies, says there are spaces Identix can fill where Viisage has been lacking. “What Viisage needed really was a stronger participation in the fingerprint space,” LaPenta said in a conference call. “That space comprises about 70 percent of what the biometrics industry is today.” Identix CEO Joseph Atick will take on a new role at the combined company as its chief strategic officer and vice chair of its board. Bear, Stearns & Co. Inc. served as financial advisor to Viisage, with USBX Advisory Services LLC also providing an advisory role. Janney Montgomery Scott LLC served the same function for Identix.