Viisage And Identix Merge To Form L-1 Identity Solutions
The portfolio of L-1 Identity Solutions companies – Viisage and Identix, together with Integrated Biometric Technology, SecuriMetrics, Inc., and Iridian Technologies, Inc. – offers the most comprehensive and technologically-advanced set of solutions for protecting and securing personal identities and assets. The L-1 Identity Solutions companies have a combined 20-year history of trust and reliability in the private and public sector gained by solving the toughest problems associated with credentialing and managing human identity. L-1 Identity Solutions will be led by Robert V. LaPenta, Chairman of the Board, President and Chief Executive Officer. “This is truly a defining moment for the company as we head into a new era of delivering customer-focused solution sets that combine the industry’s best and most innovative technology, together with deep insight into our customers’ unique needs,” said Robert V. LaPenta, Chairman of the Board, President and Chief Executive Officer of L-1 Identity Solutions. “We are setting a new standard for the industry with our approach and will continue to seek ways in which we can act as leaders of positive change for the industry.” Based on Viisage’s closing price on Monday, August 28, 2006, L-1 Identity Solutions has an aggregate market capitalization of approximately $1.1 billion. The Company expects fourth quarter revenue of approximately $60 million and Adjusted EBITDA of $15-$17 million.