HID Global, the United States-based division of Sweden’s Assa Abloy, on Monday said it has acquired fingerprint sensor developer and provider Lumidigm, extending its portfolio of authentication products and allowing it to deliver new solutions into more applications.
Terms of the deal were not disclosed although the Albuquerque Journal cited a Lumidigm investor as saying that Assa Abloy paid more than $60 million for the 13-year-old company. Lumidigm, which is based in New Mexico, is expected to have more than $25 million in sales this year and be immediately accretive to Assa Abloy’s earnings.
Lumidigm develops and sells fingerprint sensors based on multispectral imaging technology, which works well with damaged fingerprints and in adverse environmental conditions.
California-based HID Global, which provides secure identity solutions, offers a variety of access control readers for smart cards and biometrics, smart credentials, card printers, RFID tags, software, and other related technology. HID Global says its goal is to extend Lumidigm’s imaging technology beyond fingerprint and hand-based applications into other applications such as iris, facial and other smart imaging systems.
“Lumidigm’s proven product portfolio will enhance our current strong authentication offerings, especially for healthcare, financial institutions and other high-security environments,” Denis Hebert, president of HID Global, said in a statement. “The company has unique technology protected by a large patent portfolio and proprietary algorithms and has achieved a strong penetration in key emerging markets including South America and Brazil.”
HID Global says that demand is growing for biometric solutions across various vertical markets such as banking and healthcare. The company says its global reach and product development strengths will be used to exploit a variety of new market opportunities for Lumidigm’s technology and product portfolio.
Lumidigm has 33 employees. Imperial Capital served as Lumidigm’s financial adviser on the deal.