Gemalto’s acquisition of 3M’s Identity Management Business now complete
Gemalto has completed the acquisition of 3M’s Identity Management Business after approval by the relevant regulatory and antitrust authorities.
This acquisition rounds out Gemalto’s Government Programs offering by adding biometric technologies and more secure document features. The deal also positions Gemalto to provide solutions for the growing commercial biometrics market.
The Identity Management Business will be integrated into Gemalto Government Programs business. In 2016, the acquired business generated $202 million in revenue and an estimated $53 million in profit from operations.
“With the acquisition of 3M’s Identity Management Business, Gemalto makes a strategic move by in-sourcing biometric technology. Combining our market access, technologies and expertise will enable Gemalto to further accelerate the deployment of trusted national identities and to offer strong end-to-end biometric authentication solutions throughout the digital economy”, said Philippe Vallée, Gemalto CEO.
Last December it was announced that Gemalto had entered into agreements to acquire 3M’s Identity Management Business for US$850 million.