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Business/Financial

Gemalto To Acquire 3M’s Identity Solutions Business For $850 Million

By Cal Biesecker

Monday, December 12th, 2016

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Gemalto To Acquire 3M’s Identity Solutions Business For $850 Million

3M handheld fingerprint reader. Photo: 3M Corp.

Netherlands-based digital security company Gemalto on Friday said it has agreed to acquire the identity management business of 3M Corp. [MMM] for $850 million in cash, saying the deal will round out its government solutions business and positions it to provide commercial biometrics solutions.The deal is expected to close in the first half of 2017, subject to regulatory approvals. 3M’s identity business includes biometrics solutions provider Cogent, the Document Reader business, and Secure Materials business, which combined have $215 million…

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