Gemalto NV, a global digital security firm based in Amsterdam, The Netherlands, has agreed to purchase the identity management business of 3M Co. (NYSE: MMM) of St. Paul, Minnesota, for $850 million. The acquisition includes 3M Cogent Inc., which develops biometric products, such as fingerprint and iris scanners, used in civil identification, border control and law enforcement, and was purchased by 3M for $943 million in 2010. Gemalto's acquisition also includes 3M's document reader and secure materials businesses. The deal is expected to close in the first half of 2017.
"3M's identity management business and Gemalto perfectly fit, solving authentication and identity management pain points across our customer segments, creating immediate increased differentiation and offering additional long term growth perspectives", says Gemalto CEO Philippe Vallée.