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3M to Acquire Cogent Systems

GRC Announcements | August 31, 2010

3M announced on Aug. 30 it has entered into a definitive agreement to acquire Cogent Systems. The proposed transaction has an aggregate value of approximately $943 million, or approximately $430 million net of cash acquired.

Cogent provides finger, palm, face and iris biometric systems for governments, law enforcement agencies, and commercial enterprises. Its Automated Fingerprint and Palmprint Identification Systems (AFIS), enable customers to capture fingerprint and palm print images electronically, encode prints into searchable files, and accurately compare a set of fingerprints/palm prints to a database containing potentially millions of prints in seconds.

Identification and authentication solutions from 3M include border management products; document manufacturing and issuance systems for IDs, passports, and visas; document readers and verification products; and security materials, such as laminates, to protect against counterfeiting and tampering.

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