Mergers and Acquistions News
Categories: Software
June 6th 2011, 10:29AM
Nine months after Safran paid more than $1 billion for face-recognition software maker L-1 Identity Solutions, an investigation has begun into the transaction.
The Committee on Foreign Investment in the United States has just completed a 30-day review of the sale to the French defence company, and it is now ploughing on with a 45-day investigation process.
A deal was also made with British company BAE, but that has not been called into question. That was completed in February, and the plan was for Safran to take on the rest of the company once that was complete.
L-1 Identity has said it is making progress on a mitigation statement which is satisfactory to all parties, but media sources, including Reuters, said there was no assurance that this would be forthcoming.
If the mitigation was satisfactory, however, it could bring forward the end of the investigation process.
The company provides face recognition software and other biometric products which are used by government agencies to improve security.
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