3M/Cogent
3M (NYSE: MMM) announces the $943 million acquisition of Cogent Inc. (Nasdaq: COGT). The transaction is $10.50 per common share. Net of cash acquired, the transaction is valued at $430 million.
Cogent provides finger, palm, face and iris biometric systems for governments, law enforcement agencies, and commercial enterprises.
The acquisition of Cogent is expected to close during the fourth quarter of 2010.
On a GAAP basis, the acquisition will be $0.09 to $0.10 dilutive to earnings in the first 12 months. Excluding items, the acquisition will $0.01 to $0.02 accretive to earnings over the same period.
Cogent provides finger, palm, face and iris biometric systems for governments, law enforcement agencies, and commercial enterprises.
The acquisition of Cogent is expected to close during the fourth quarter of 2010.
On a GAAP basis, the acquisition will be $0.09 to $0.10 dilutive to earnings in the first 12 months. Excluding items, the acquisition will $0.01 to $0.02 accretive to earnings over the same period.
3M Cogent Awarded Long Term Contract in Supplying High-Resolution LiveScan Booking Stations to Hong Kong Police Force
PASADENA, Calif.--(BUSINESS WIRE)-- 3M Cogent announced today that it was awarded a 10-year contract to supply high-resolution LiveScan booking systems and biometric identification solutions to the Hong Kong Police Force (HKPF). The HKPF awarded the contract to 3M Cogent based on their proven performance, merit and value proposition. 3M Cogent software and hardware will be used to capture tenprints and palm prints in accordance with the HKPF’s ANSI/NIST standard. Under the contract, 3M Cogent will supply HKPF with ninety-two ruggedized LiveScan booking stations with adjustable cabinets, FBI ...
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