LaserCard, a provider of secure ID solutions, has entered into a definitive agreement to be acquired by Assa Abloy, at a price of US$6.25 per share through a cash tender offer. The total transaction value is approximately $80 million. LaserCard will become part of Assa Abloy's HID Global business with LaserCard's secure identity products, solutions and services complementing HID's identity solution offering.
“The secure identity markets are rapidly growing and the need for enhanced security is driving increased sophistication in identity credentials and systems,” said Robert DeVincenzi, President and CEO of LaserCard. “LaserCard is pleased to add its capabilities to the expanding portfolio of customer solutions that HID is offering to the market.”