Morpho's parent company completes acquisition of L-1 Identity Solutions

Wednesday, August 31, 2011

After securing all required approvals, French conglomerate Safran has completed its acquisition of US company L-1 Identity Solutions for US$1.09bn, the former said in a statement.

L-1 Identity Solutions specializes in access control, secure credentialing and enrollment service. It generated sales of more than US$450mn in 2010.

Following this transaction, Safran expects to strengthen its position as a provider of biometric identity solutions.

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L-1 will join Safran's existing security business, operating as Morpho, and will be renamed MorphoTrust.

In Chile, Morpho is participating in the tender to modernize the country's national ID card and passport systems. The company is competing with Sice Agencia Chile and Bundesdruckerei GMBH.

The evaluation of bidders is slated to finish by October 13.