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.”