Identix and Visionics Agree to $600 Million Merger Deal


Identix Inc. and Visionics Corp. announce a strategic merger of equals in an all-stock transaction valued at approximately $600 million. The two companies signed a merger of equals agreement following unanimous approval by the boards of directors for both companies. The two companies believe that a merger will position the new company at the forefront of the security industry. The companies hope the synergy the merger offers will help the new entity to respond faster to increased demands for biometric technology in many markets.

Once the merger is complete, Robert McCashin, chairman and CEO of Identix, will serve as chairman of the new company and Dr. Joseph Atick, chairman and CEO of Visionics, will serve as CEO. Jim Scullion, president and COO of Identix, and Erik Prusch, CFO of Identix, will occupy the same roles in the new company. The new entity’s board of directors will consist of eight directors, four designated by each company, and will include both McCashin and Atick. The name of the new company will be selected prior to the close of the merger. Offices are likely to be maintained on both the East Coast and the West Coast.

Atick says, “I believe this merger of equals is one of the most significant events in the history of the biometrics industry to date. Both Visionics and Identix have had a history of leadership and have served their respective customers well. Together, I believe we can better serve these customers by providing a total solution through even broader product and service offerings.

McCashin says, “The value of this strategic combination lies not only in what it is today but in what it portends for the future of biometrics. This is a defining event for our industry and I am confident that this merger, of what can only be described as the best-of-breed biometric technology providers, has the potential to propel us to new heights.”

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