3M in $1bn biometrics move

Powered by SC Magazine
 

Automated fingerprint ID system.

Global industrial manufacturer 3M has agreed to acquire US biometrics and authentication company Cogent Systems for US$943 million ($1 billion). 

3M plans to acquire all outstanding shares within 10 business days. Cogent's board has recommended shareholders accept the offer of US$10.50 per share, which has been endorsed by its US-based CEO and founder, Mingh Hsieh. 

"3M can accelerate our growth and extend our reach in global border control markets, law enforcement and commercial applications," Hsieh said in a statement. 

Cogent offered 3M an automated fingerprint identification system which typically enables law enforcement agencies to encode them into searchable files for print matching functions.

Cogent was recently selected by the UK's National Policing Improvement Agency to deliver its police a mobile capture device fingerprint referencing system, which will enable authorities to compare fingerprints with its existing database from mobile capture devices. 

Copyright © iTnews.com.au . All rights reserved.


3M in $1bn biometrics move
 
 
 
Top Stories
Beyond ACORN: Cracking the infosec skills nut
[Blog post] Could the Government's cybercrime focus be a catalyst for change?
 
The iTnews Benchmark Awards
Meet the best of the best.
 
Telstra hands over copper, HFC in new $11bn NBN deal
Value of 2011 deal remains intact.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Who do you trust most to protect your private data?







   |   View results
Your bank
  39%
 
Your insurance company
  3%
 
A technology company (Google, Facebook et al)
  8%
 
Your telco, ISP or utility
  7%
 
A retailer (Coles, Woolworths et al)
  2%
 
A Federal Government agency (ATO, Centrelink etc)
  20%
 
An Australian law enforcement agency (AFP, ASIO et al)
  14%
 
A State Government agency (Health dept, etc)
  6%
TOTAL VOTES: 1799

Vote
Do you support the abolition of the Office of the Information Commissioner?