Security Sales and Integration Magazine

Business Management

ASSA ABLOY to Acquire LaserCard for $80M

December 22, 2010 | Comments (0) | Post a comment

IRVINE, Calif. — ASSA ABLOY, the parent company of HID Global, has signed an agreement to acquire secure ID solutions provider LaserCard Corp. for about $80 million.

The price of $6.25 per share is a premium of about 38 percent over the closing price on Dec. 17 and about a 42 percent premium over the company’s 20-day average closing price.

Headquartered in Mountain View, Calif., LaserCard’s credential constructions feature the company’s counterfeit resistant optical security media (OSM) and embedded hologram technology that enables documentation authentication with the human eye.

The deal, which is expected to be completed in the first quarter of 2011, will advance HID Global’s worldwide market position in the government sector and will expand the company’s technology portfolio.

The acquisition includes LaserCard’s wholly-owned German subsidiary, Challenge Card Design (CCD), a provider of card personalization and ID management solutions.

“The LaserCard organization brings incremental skills and core technical competencies that will augment HID Global’s secure identity strategy,” says 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.”

Imperial Capital LLC acted as financial adviser to LaserCard and O’Melveny & Myers LLP acted as counsel.


Read more about: Acquisitions, ASSA ABLOY, HID Global

Review / Comment



Other Recent News

May 22, 2012

Doyle Security Expands Footprint in Upstate N.Y. With 2 Acquisitions

Doyle Security and Integration Systems, based here, has expanded its footprint in upstate New York with the acquisitions of Loss Prevention Experts Security & Fire Alarm Systems (LPE) and JMS Alarms.

May 21, 2012

PBFAA to Commemorate 30th Anniversary at Annual Expo

Pennsylvania Burglar & Fire Alarm Association (PBFAA) will celebrate its 30th anniversary during its annual membership meeting, held June 6-7 at the Lancaster Host Resort in Lancaster, Pa.

May 17, 2012

Majority of Security Integrators Hesitant to Do Business With IT Distributors

According to a new report, less than 40% of North American-based security systems integrators would prefer to deal with IT distributors when purchasing their IP-based video surveillance products.

May 16, 2012

Smart Business Tips Video: Growing Through Acquisition

Should electronic security integration companies acquire their competitors? Can your company afford to purchase another business? PSA Security Network President and CEO Bill Bozeman discusses this hot topic in the latest Smart Business Tips video.

May 11, 2012

New York Times Best-Selling Author to Speak at SIA Government Summit

The Security Industry Association (SIA) has tapped New York Times best-selling author Brad Thor to serve as keynote speaker during its 2012 Government Summit, scheduled for June 19-20 in Washington.

Sign up for the eControl Panel

env Sign up here to receive current news and industry updates delivered right to your inbox.