HID’s Parent Co. Acquires LaserCard Corp.
HID Global's parent company, ASSA ABLOY, says that its pending acquisition of LaserCard Corporation represents an important advancement in HID Global’s worldwide market position in the government sector and will significantly expand its portfolio of technology capabilities.
LaserCard is a recognized leader in secure identity credentials for large-scale citizen and immigrant identification programs with demonstrated capabilities ranging from secure card design to issuance system implementation The company’s unique credential constructions feature LaserCard’s highly differentiated, counterfeit-resistant optical security media (OSM) and embedded hologram technology that enables documentation authentication with the human eye.
“The LaserCard organization brings incremental skills and core technical competencies that will augment HID Global’s secure identity strategy,” said HID Global president and CEO Denis Hébert. “It will widen the breadth of our e-government business with a unique selection of products, technologies and a range of service capabilities that are highly synergistic with HID Global’s current offerings.”
“HID Global and LaserCard share a common perspective relative to the secure identity market,” commented Robert DeVincenzi, president and CEO of LaserCard. “The combination of our two companies significantly expands the capability and value LaserCard represents to our partners and customers in the government issued ID sector, with compelling opportunities to leverage HID Global’s market momentum and global coverage, and for future diversification and growth.”
The acquisition includes LaserCard’s wholly owned German subsidiary, Challenge Card Design Plastikkarten GmbH (CCD), which manufactures of high-quality specialty cards and provider of card personalization and ID management solutions.
The transaction is expected to be completed in the first quarter of 2011.