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Business/Financial

L-1 Selling Identity Solutions Portfolio To Safran, Intel Business To BAE

DDN

Tuesday, September 21st, 2010

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By Calvin Biesecker France's Safran Group and Britain's BAE Systems yesterday announced plans to acquire the identity solutions and intelligence services businesses respectively of L-1 Identity Solutions [ID], in two separate deals that value L-1 at $1.6 billion, including the company's outstanding debt. For Safran, which is acquiring the biggest chunk of L-1, the deal significantly expands its presence in the United States for identity solutions, particularly with the Defense Department, credentialing services for the federal government and states, and…

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