Monday, March 24, 2008

Digimarc Shops ID Systems Business to L-1

Digimarc Corp., a supplier of secure identity and digital watermarking solutions, announced Monday that it has agreed to sell its ID Systems business to L-1 Identity Solutions Inc. for some $250 million in stock and cash. The boards for both companies have approved the transaction, which is expected to close in the second half of this year, Digimarc said. Headquartered in Stamford, Conn., L-1 Identity Solutions offers identification products and services, including biometric-based platforms that rely on finger, face and iris recognition. Digimarc explained that the sell-off is a result of the company wanting to streamline its business model and focus on the delivery of its digital watermarking solutions.