ASSA ABLOY Acquires Secure ID Solutions Company LaserCard

LASERCARD is a leader in secure identity credentials for large-scale citizen and immigrant identification programs with demonstrated capabilities ranging from secure card design to issuance system implementation. The company’s unique credential constructions feature LaserCard’s highly differentiated, counterfeit resistant optical security media (OSM) and embedded hologram technology that enables documentation authentication with the human eye.“The LaserCard organization brings incremental skills and core technical competencies that will augment HID Global’s secure identity strategy,” said HID Global president and CEO Denis Hébert. “It will widen the breadth of our e-government business with a unique selection of products, technologies and a range of service capabilities that are highly synergistic with HID Global’s current offerings.”LaserCard is headquartered in Mountain View, California with offices in Rastede and Ratigen, Germany and employs 182 people. Revenues for fiscal year ending March 31, 2010 were approximately $US59 million. The transaction is expected to be completed in the first quarter of 2011.