Safran, L-1 merger gets final go-ahead
PARIS—Safran has cleared the last hurdle in its acquisition of L-1 Identity Solutions, a Stamford, Conn.-based biometrics company, and expects to close the deal by the end of next week.
Final approval came from the Committee on Foreign Investment in the United States, which yesterday notified Safran, based in Paris, that its investigation of the transaction is complete and it found no unresolved national security concerns. With this latest approval behind them, the companies expect to complete the merger in the next five business days.
Security Systems News first began covering this story when Safran announced last September that it would purchase L-1 and its biometric and enterprise access solutions, secure credentialing solutions and enrollment services businesses for $1.09b in cash. Following the closing, Safran intends to merge L-1 with its existing security business, Morpho.