HID Global announced that it has purchased authentication solutions provider Lumidigm. The financial terms of the acquisition deal were not disclosed, according to The Economic Times.
Lumidigm uses multispectral imaging technology and biometric fingerprint sensors to verify identities with high percentage of accuracy. The transaction extends HID Global's product portfolio. At the same time, the deal gives the latter the opportunity to offer a new set of secure identity solutions, the report detailed.
Last year, HID acquired Codebench, a company that provides physical security identity management services. The purchase was done to enhance its foothold in the government, the report explained.
Denis Hebert, President and Chief Executive Officer of HID, said of the deal: "Lumidigm's proven product portfolio will enhance our current strong authentication offerings, especially for healthcare, financial institutions and other high-security environments."
According to Lumidigm Executive Chairman Bob Harbour, the transaction will allow the firm to exploit HID's size and enable them to tap new markets, The Economic Times reported.
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