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8-K - FORM 8-K - L-1 IDENTITY SOLUTIONS, INC. | y05046e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACTS:
L-1 Identity Solutions
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Safran Press | |
Doni Fordyce
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Catherine MALEK | |
+1 203-504-1109
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+33 (0)1 40 60 80 28 | |
dfordyce@L1ID.com
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catherine.malek@safran.fr | |
Safran Investor Relations | ||
Pascal BANTEGNIE | ||
+33(0)1 40 60 80 45 | ||
pascal.bantegnie@safran.fr | ||
Antoine-Pierre de Grammont | ||
+33 (0)1 40 60 80 47 | ||
antoine-pierre.degrammont@safran.fr |
L-1 Identity Solutions and Safran Receive Approval
for the Pending Merger Transaction from the
Committee on Foreign Investment in the United States (CFIUS)
for the Pending Merger Transaction from the
Committee on Foreign Investment in the United States (CFIUS)
Merger Expected to Close within Five Business Days
STAMFORD, CT. and PARIS, France July 19, 2011 L-1 Identity Solutions, Inc. (NYSE: ID),
a leading supplier of identity solutions and services, and Safran (NYSE Euronext Paris: SAF)
today announced that in connection with the pending acquisition of L-1 by Safran, the parties
have reached a final agreement on the terms of a definitive mitigation agreement with the
United States government. L-1 and Safran were notified by CFIUS on July 19, 2011 that the
investigation of the merger transaction is complete and that there are no unresolved national
security concerns with respect to the transaction. With CFIUS approval for the merger, and
having satisfied all other conditions required prior to closing, the parties intend to
complete the merger transaction within the next five business days.
A little over five years ago we began L-1 with a vision and goal of becoming a leading
identity solutions company; a company that would play a key role in securing individual
identities, providing technologies to protect citizens and aiding in the fight against
terrorism, said Robert V. LaPenta, Chairman, President and CEO of L-1 Identity
Solutions. I am proud to say that with the dedication and hard work of our management
team and our employees, we accomplished our goal. The combination of L-1 and Safran
Morpho with our complementary technologies, markets and promising synergies will result
in the leading worldwide-wide provider of identity solutions today and into the future.
Safran will hold a conference call for analysts/investors the day the transaction is closed.
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. (NYSE: ID) protects and secures personal identities and
assets. Its divisions include Biometrics / Enterprise Access and Secure Credentialing
solutions and Enrollment services. With the trust and confidence in individual identities
provided by L-1, international governments, federal and state agencies, law enforcement
and commercial businesses can better guard the public against global terrorism, crime and
identity theft fostered by fraudulent identity. L-1 Identity Solutions is headquartered
in Stamford, CT. For more information, visit www.L1ID.com.
About Safran
Safran is a leading international high-technology group with three core businesses: Aerospace
(propulsion and equipment), Defence and Security. Operating worldwide, the Safran group has
more than 54,000 employees and generated sales of 10.8 billion euros in 2010. Working alone
or in partnership, Safran holds world or European leadership positions in its core markets.
The Group invests heavily in Research & Development to meet the requirements of changing
markets, including expenditures of 1.2 billion euros in 2010. Safran is listed on NYSE
Euronext Paris and its share is part of the CAC Large 60 index. For more information,
www.safran-group.com
L-1 Forward Looking Statements
This communication contains forward-looking statements by L-1 Identity Solutions that involve
risks and uncertainties. Such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect L-1s
current views based on managements beliefs and assumptions and information currently
available. Forward-looking statements concerning future plans or results are necessarily only
estimates, and actual results could differ materially from expectations. Certain factors that
could cause or contribute to such differences include, among other things, the availability
of customer funding for L-1 products and solutions, general economic and political
conditions, the timing of consummating the previously announced proposed merger with Safran,
the risk that actions or deliverables that, by their nature, are to be taken or delivered at
the closing of such transaction may not be taken, delivered or waived, and additional risks
and uncertainties described in the Securities and Exchange Commission filings of L-1,
including its Form 10-K for the year ended December 31, 2010 and its Form 10-Q for the three
months ended March 31, 2011. L-1 expressly disclaims any intention or obligation to update
any forward-looking statements.
ID:D
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