L-1 Identity Solutions, a supplier of identity solutions and services, will hold a special meeting of stockholders to vote on the previously announced merger transaction with Safran Son February 3. L-1 stockholders of record as of the close of business on December 27, 2010, will be entitled to receive notice of, and voting materials relating to, the special meeting.
Under the terms of the agreement entered into on Sept. 19, 2010, Safran has agreed to acquire L-1 Identity Solutions, Inc. following the sale of L-1's intelligence services businesses to BAE Systems Information Solutions Inc. (a subsidiary of BAE Systems, , the U.S. affiliate of BAE Systems). After giving effect to the BAE Systems transaction, L-1 will be comprised of Secure Credentialing Solutions, Biometric and Enterprise Access Solutions and Enrollment Services.
L-1 expects the BAE Systems transaction to close late in the fourth quarter of 2010 or early in the first quarter of 2011 and continues to expect the Safran merger to close during the first quarter of 2011, subject, in each case, to the timing of applicable regulatory processes and assuming satisfaction or waiver of all of the applicable conditions.