3M Deals for Security System Developer

Monday, August 30, 2010 @ 04:08 PM gHale


3M Co. will pay $943 million to pick up finger and palm print system developer Cogent Inc. of Pasadena, CA.
While 3M already operates a division for identification and authentication systems, the deal will help 3M compete in border control and law enforcement markets, said Ming Hsieh, Cogent’s founder and chief executive.
”Together, we’ll deliver a broader range of identification and authentication solutions to the security industry and to our customers,” Hsieh said.
The acquisition should close in the fourth quarter.
Cogent’s Automated Fingerprint/Palmprint Identification Systems 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.
“Cogent Systems has done a tremendous job establishing a strong presence in the biometric industry,” said Mike Delkoski, vice president and general manager, 3M Security Systems Division. “Adding Cogent Systems’ 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. It also expands our reach into access control and other commercial ID and authentication applications.”
Currently 3M offers identification and authentication solutions for 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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