News
LaserCard Acquisition to Advance HID Global Solutions for Secure Identity
December 2010 by Emmanuelle Lamandé
HID Global announced that parent company ASSA ABLOY’s pending acquisition of LaserCard Corporation, a provider of secure ID solutions, represents an important advancement in HID Global’s worldwide market position in the government sector and will significantly expand its portfolio of technology capabilities.
LaserCard is a recognized leader insecure identity credentials for large-scale citizen and immigrant identification programs with demonstrated capabilities ranging from secure card design to issuance system implementation. The company’s unique credential constructions feature LaserCard’s highly differentiated, counterfeit resistant optical security media (OSM) and embedded hologram technology that enables documentation authentication with the human eye.
The acquisition includes LaserCard’s wholly-owned German subsidiary, Challenge Card Design Plastikkarten GmbH (CCD), manufacturer of high-quality specialty cards and provider of card personalization and ID management solutions.
LaserCard is headquartered in Mountain View, California with offices in Rastede and Ratigen, Germany and employs 182 people. Revenues for fiscal year ending March 31, 2010 were approximately $59 million.
The transaction is expected to be completed in the first quarter of 2011.
