Saflink's FLO sale goes through
By Martha Entwistle
Updated Mon August 27, 2007
The crosses and dots are all finished with in Saflink's sale of its Registered Traveler assets to the company it created, FLO. Once the organizer and leader of the FLO Alliance, Saflink went so far as to reorganize itself around FLO, but now has chosen to sell off its FLO assets to a corporation that it created, but in which it now holds just 23% equity interest. Simply put, Saflink needed the cash. CEO Steve Oyer's plan to focus on monetizing the company's assets seems like a solid one, but it's got to be disappointing that Saflink won't see through what seemed to have revenue-creating potential. Note that former Safllink CEO Glenn Argenbright, the driver behind Saflink's foray into FLO, now runs FLO Corp. and has resigned from the Saflink board.
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