News
Gemalto finalizes the acquisition of 3M’s Identity Management Business
May 2017 by Marc Jacob
Gemalto announces the closing of the acquisition of 3M’s Identity Management Business after approval by the relevant regulatory and antitrust authorities[1]. This strategic acquisition rounds out Gemalto’s Government Programs offering by adding biometric technologies and more secure document features and it ideally positions the Company to provide solutions for the promising commercial biometrics market.
The Identity Management Business will be integrated into Gemalto Government Programs business. In 2016, the acquired business generated $202 million in revenue and an estimated $53 million in profit from operations[2].
[1] Local share transfer formalities are still underway in two countries and are expected to be completed in the second quarter of 2017.
[2] Source: Proforma carve-out financials based on due diligence
