UK BAE Systems Could Takeover L-1 Identity Solutions through a $300m Transaction

Added by Gary Dunn on September 20, 2010

Transaction rumors have it that BAE Systems intends to purchase L-1 Identity Solutions for $300 million. If this transaction will take place, then it would make SAFRAN, the French state-controlled defense company to grab the remains of the Stamford, Connecticut-based manufacturer of biometric systems.

The spokesman of BAE Systems did not give statement on this issue and said that the company did not converse about amalgamation rumors as according to its policies. On the other hand, SAFRAN has also refrained to give any statement regarding this issue.

The governmental consulting business service, L-1 Identity Solutions, has been available for sale since February, 2010, and it has provided its possible buyers with clear image of the divisions between its biometric classification and legislative consulting business by dividing itself up for a sale. According to sourced contacted by Reuters, L-1 is hoping to package both these deals by the end of this month, but there will remain variations over estimation. At the current time, both BAE systems and SAFRAN have presented interest in buying L-1 Solutions and most probably the company will be sold to one of these two companies in the near future.