Gemalto to purchase 3M Identity Management

Company Thales
Date 13.12.2016

Digital security firm Gemalto NV has agreed to buy 3M Co.’s identity-management business for $850 million, 3M said Thursday.

The business, with about $215 million in sales a year, includes 3M Cogent, which 3M bought in 2010, and focuses on biometric systems, such as fingerprint and iris scanners, along with systems to issue and read secure documents, such as passports and identity cards.

The sale is expected to close in the first half of 2017.

3M said about 450 of its employees are expected to transfer to Netherlands-based Gemalto.

“We believe that the identity management business will be better positioned with a company that is primarily focused on security solutions,” said John Riccardi, vice president and general manager of 3M’s Traffic Safety and Security Division. “I want to thank our employees for their outstanding contributions to our business.”

St. Paul, Minn.-based 3M, whose products include Post-it Notes and Scotch tape, has reported lower sales for seven quarters running. Through Sept. 30, its profit was up 2.6% though sales slid 0.85% to $22.78 billion.

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