Swedish lockmaker Assa Abloy AB (STO: ASSA-B.SK) has acquired U.S. biometric company Lumidigm, as a means of incorporating secure authentication services into its technology offerings.
The Stockholm-based company facilitated the deal through its U.S. subsidiary, Irvine, Calif.-based HID Global Corp., a provider of security products and services.
The transaction should HID’s “authentication offerings, especially for healthcare, financial institutions and other high-security environments,” says HID CEO Denis Hébert in a statement. Lumidigm, a manufacturer of biometric readers, also has a large patent portfolio along with market share in emerging economies such as South America and Africa, he adds.
The Albuquerque, N.M.-based target was sold for an undisclosed amount. It will be added to Assa Abloy's secure identity portfolio and enable HID to incorporate multispectral imaging biometrics to its authentication services for government, banking and enterprise.
Lumidigm, founded in 2001, has 33 employees and projected sales earnings of roughly $25 million for 2014.
This is the second deal for Assa Abloy in 2014. In January, the company purchased Identrust, a San Francisco-based developer of identity authentication software, from Parallax Capital Partners LLC and Stepstone Group LLC.