3M to Sell Identity Management Business to Gemalto
3M has entered into agreements to sell its Identity Management Business for $850 million to Netherlands-based Gemalto, a global provider of digital security. 3M’s Identity Management Business comprises 3M Cogent Inc., which provides a full spectrum of biometric solutions with a focus in civil identification, border control and law enforcement, and 3M’s Document Reader and Secure Materials Businesses.
Headquartered in the U.S. and present on three continents, 3M’s Identity Management Business partners with governments, law enforcement, border control and civil identification bodies worldwide. It offers biometric based end-to-end solutions enabling identity verification and user-friendly authentication. Annual revenue of 3M’s Identity Management Business is approximately $215 million and profit from operations is $58 million.