06.08.2012 • NewsL-1 Identity SolutionsBioscrypt

L-1 Identity Solutions: acquires Bioscrypt

L-1 Identity Solutions: acquires Bioscrypt. Bioscrypt has entered into a definitive agreement with L-1 Identity Solutions, whereby L-1 will acquire all outstanding Bioscrypt shares...

L-1 Identity Solutions: acquires Bioscrypt. Bioscrypt has entered into a definitive agreement with L-1 Identity Solutions, whereby L-1 will acquire all outstanding Bioscrypt shares in a stock-for-stock transaction.

Under the terms of the definitive agreement, the company will purchase Bioscrypt shares for consideration currently valued at CDN $ 0.55 per share, representing a total purchase price of approximately CDN $ 44.0 million

“This transaction represents a strategic opportunity for Bioscrypt shareholders to maintain and develop their interest in the growing market for biometric technologies with an expanded market potential as a member company of L-1, a global leader in the identity management space”, said Robert M. Douglas, president and CEO of Bioscrypt.

www.bioscrypt.com, www.L1ID.com

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