News and insight into biometric identification and authentication

L-1 employs financial advisors for possible sale

Thursday, March 4, 2010

L-1 Identity Solutions, a developer of biometric and other identity verification technologies, has secured Goldman Sachs & Co and Stone Key Partners as financial advisors.

L-1 is hoping to determine a solution with the help of their advisors that will deliver more shareholder value to their shareholders. While officials from L-1 have said that the results of the financial advisor assistance may not result in a sale of either the company or one of its divisions, they have not ruled it out either.

L-1 has stated that it will not disclose any other information on the process until their Board of Directors approves a specific plan of action. [end] 

South African-based biometric firm Ideco revealed in its year-end results that it scored three contracts to provide biometric solutions, reports Business Day.

Ideco is working on Namibia’s driver’s license project and supplying Gautrain smart cards to the Bombela Operating Company. Two of its new contracts involve biometric solutions for medical applications. The third will supply biometric readers to a financial institution for the purpose of client identification.

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Heartland Payment Systems Campus Solutions division, in partnership with Bridgeway Solutions, an identification and security solutions provider, has been chosen as one of South Carolina’s preferred system providers for electronic disbursement of financial aid refunds and payments to students.

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Apriva, a provider of secure information and wireless transaction solutions, announced that its Apriva Wallet mobile commerce platform is now available to through the company’s nationwide network of merchants.

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Russia has pushed back the launch of its universal eID card to January 2013, reports The Moscow Times.

Originally scheduled to roll out this month, the card is supposed to function as an electronic ID, driver’s license, proof of auto insurance, ATM card and immigration document, along with other possible features.

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Just as the University of Georgia police were ending an investigation into a sophisticated fake ID ring, another student dealing in fake driver licenses came to light. The original ring, apparently run by students at the University of Georgia and Gainesville State College, had distributed more than 1,000 fake IDs to students at the two schools.

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British Columbia is moving forward with plans to upgrade its CareCard program. According to The Vancouver Sun, the new card will provide access to a variety of regional services including electronic health records, driver license and school registration for children.

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