Identix Focuses on Biometrics After Selling Subsidiary
MINNETONKA, Minn.
In a move intended to increase focus on the biometrics market, Identix announced the sale of its project management services subsidiary Identix Public Sector Inc. to Alion Science and Technology Corp.
Officials expect the focus-shift to accelerate Identix’s industry growth and profitability.
Identix maintains that the sale will not diminish its presence in the federal marketplace, and instead expects to increase biometric product development in the Washington, D.C.-area.
The security technology company received $8.85 million from the McLean, Va.-based Alion. An additional $1.1 million for intercompany payables is expected in four installments during the next four months.
Identix officials expect the sale to have a “modestly positive” effect on operating cash flow and a “modestly negative” effect on operating income.
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