Gemalto Acquires 3M’s Identity Management Business
On December 9, security vendor Gemalto announced that it will acquire 3M’s Identity Management Business (IMB) for US$850 million. The business includes 3M Cogent (biometric solutions for civil identification, border control, and law enforcement) and 3M’s document reader and secure materials business. 3M’s IMB annual revenues are estimated at US$215 million, and more than 450 experts will join Gemalto under the acquisition. They will be integrated into Gemalto’s Government Programs business, stating that it expects the revenue to grow at +10% CAGR by 2020. The deal should close in the first half of 2017 and was met favorably on the markets, with Gemalto shares up +3.48% (at €54.13).
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