STAMFORD, Conn. - Viisage Technology Inc. and Identix Inc. announce the completion of their merger with the combined company now operating as L-1 Identity Solutions Inc. Based on Viisage’s closing stock price on Aug. 28, L-1 Identity Solutions has an aggregate capitalization of about $1.1 billion.
L-1 Identity Solutions’ shares trade on the New York Stock Exchange as ‘”D.” The firm expects 4th quarter results to be in the area of $60 million and adjusted EBITDA of $15 to $17 million.
Robert LaPenta will lead L-1, assuming the positions of chairman of the board and CEO.
“This is truly a defining moment for the company as we head into a new era of delivering customer-focused solution sets that combine the industry’s best and most innovative technology together with deep insight into our customers’ unique needs,” says LaPenta. “We are setting a new standard for the industry with our approach and will continue to seek ways in which we can act as leaders of positive change for the industry.”
Commenting is not available in this channel entry.