3M In Bid To Acquire Congent To Boost Biometric Security
3M has announced plans to acquire Cogent Systems in a bid to boost its biometric security options.
The electronics giant believes that Cogent's offerings, which include fingerprint, palm, face and iris recognition tools, will appeal to its government, legal and commercial customers.
Cogent's board has already approved the offer and could accept it within the week, according to a statement from both parties.
Other undisclosed conditions will also be considered, but the companies expect to close the deal during the fourth quarter.
Mike Delkoski, vice president and general manager of 3M's Security Systems Division, praised Cogent's track record in the biometrics industry.
"Adding Cogent's products to our business strengthens our product portfolio and services in high security credential issuance and authentication systems, and positions 3M's business in law enforcement applications," he said.
"It also expands our reach into access control and other commercial identity and authentication applications."
Cogent founder and chief executive Ming Hsieh added that the companies will be able to lock down identities, passports and visas, as well as more enterprise-specific elements such as documents and verification products.
"3M can accelerate our growth and extend our reach in global border control markets, law enforcement and commercial applications," he said.
"Together, we will deliver a broader range of identification and authentication solutions to the security industry and to our customers."
Return to business news headlines
View Business News Archive