NXT-ID to buy LogicMark

NAPLES, Fla.—NXT-ID, a biometric sensor company, has agreed to acquire PERS manufacturer LogicMark for $20 million. NXT-ID's expertise in biometrics and miniaturization will help LogicMark develop PERS solutions, LogicMark president Kevin O'Connor said.

O'Connor formally announced the deal on May 19 here at Affiliated Monitoring's PERS conference Catalyst. The deal should be final by the end of June.

“The biggest benefit to us is the technical resources," O'Connor told Security Systems News.

O'Connor said that the companies have complementary capabilities. The deal brings LogicMark in-house engineering staff, and NXT-ID gets access to the LogicMark customer base, warehousing and customer service.

LogicMark manufactures both monitored and non-monitored PERS devices. Non-monitored devices directly call 911, and he said the company has a “strong foundation” in non-monitored devices. “The PERS market is primarily driven by the monitored solutions,” he said, adding that LogicMark will expand its monitored solutions.

NXT-ID focuses on technologies for biometric access control, mobile commerce, and Department of Defense contracts.

Biometrics and PERS technologies overlap, according to O'Connor. “The most immediate application is utilizing voice recognition technology in voice-activated devices,” he said. “We are in the development stage with our voice-activated emergency wall communicator and NXT engineering resources will work with us on finalizing that development.”

NXT-ID will have some input in LogicMark's current product development, he said. "As early as late this year you'll see some impact [on our products]."

In addition to the company's biometrics, O'Connor specifically lauded NXT's ability in “miniaturizing” products. “Building a smaller device that is technically proficient is not easy and NXT has some experience with that."

Will the LogicMark brand stay? “That's the plan—that the LogicMark brand will remain and it'll be a wholly owned subsidiary," he said.