HID Global has established an agreement to acquire the identity solutions business of UK-based De La Rue, a manufacturer of banknotes, tax stamps, and passports.
In announcing the acquisition, HID Global asserted that it would strengthen its position in the global government-to-citizen identification market, adding that De La Rue has a “significant market presence in Africa, Asia, Europe, Latin America and the Middle East.”
The news comes after HID Global’s acquisition of biometric identity solutions provider Crossmatch last September, with a broader acquisitions-driven growth strategy taking shape on the part of Texas-based HID Global. De La Rue’s identity documents business is to be folded into HID Global’s Citizen Identity Solutions division.
Commenting on the acquisition, HID Global CEO Stefan Widing said that De La Rue’s solutions are “highly synergistic with HID Global’s current offerings,” with De La Rue’s business being “an excellent strategic fit” with respect to HID Global’s overall goals and strategy. “Customers of both organizations will benefit from the expanded range of e-government solutions that will be offered as a result of the acquisition,” he said.
HID Global has not disclosed the financial terms of the acquisition agreement, but has indicated that it’s expected to close by the third quarter of this year, subject to regulatory approval.