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.
“With the acquisition of 3M’s Identity Management Business, Gemalto makes a strategic move by in-sourcing biometric technology. Combining our market access, technologies and expertise will enable Gemalto to further accelerate the deployment of trusted national identities and to offer strong end-to-end biometric authentication solutions throughout the digital economy,” said Philippe Vallée, Gemalto CEO.
The business includes 3M Cogent, Inc., a wholly owned subsidiary of 3M, which provides a full spectrum of biometric solutions with a focus in law enforcement, border control and civil identification. The identity management business was part of 3M’s Traffic Safety and Security Division, which is in the Safety & Graphics business. Approximately 450 3M employees are expected to join Gemalto or one of its affiliates.