Business
L-1 Identity Solutions Completes Acquisition of ComnetiX
L-1 Identity Solutions Completes Acquisition of ComnetiX.
About this update from Currency Exchange International, Corp.
[{"type":"text","content":"\n\n\n\nOAKVILLE, ON, Feb. 21 /CNW/ - ComnetiX Inc. (TSX: CXI) today announced\nthat L-1 Identity Solutions, Inc. (NYSE: ID) has completed its\npreviously-announced acquisition of all of the outstanding shares of ComnetiX\nat a price of US$1.17 per share, for a total purchase price of approximately\nUS$17.83 million.\n\n\nIn light of the acquisition, it is expected that the common shares of\nComnetiX will be delisted from the Toronto Stock Exchange at the close of\ntrading on February 23, 2007.\n\n\nThe acquisition was structured as an arrangement under the Canada\nBusiness Corporations Act.\n\n\nAbout L-1 Identity Solutions\n\n\nL-1 Identity Solutions, Inc. (NYSE: ID), together with its portfolio of\ncompanies, offers a comprehensive set of products and solutions for protecting\nand securing personal identities and assets. Leveraging the industry's most\nadvanced multi-modal biometric platform for finger, face and iris recognition,\nour solutions provide a circle of trust around all aspects of an identity and\nthe credentials assigned to it -- including proofing, enrollment, issuance and\nusage. With the trust and confidence in individual identities provided by L-1\nIdentity Solutions, government entities, law enforcement and border management\nagencies, and commercial enterprises can better guard the public against\nglobal terrorism, crime and identity theft fostered by fraudulent identity. \nL-1 Identity Solutions is headquartered in Stamford, CT. For more information,\nvisit www.L1ID.com\n\n\nAbout ComnetiX(TM) Inc (www.ComnetiX.com)\n\n\nComnetiX(TM) Inc provides secure identification and authentication\nsolutions to both the public and private sectors throughout North America.\nComnetiX offers multimode biometric identification solutions for use in areas\nsuch as applicant screening, financial services, health care, transportation,\nairlines and airports, casinos and gaming, and energy and utilities. Clients\ninclude American Airlines, Lehman Brothers, New York City Health and Hospital\nCorporation, New York State Division of Criminal Justice Services, Toronto\nPolice Services Board, Boston Police Department and the Royal Canadian Mounted\nPolice. ComnetiX is also Canada's premier applicant fingerprinting services\ncompany, facilitating tens of thousands of criminal background checks each\nyear through its chain of ten off...