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Identix Rounds out Product and Service Offerings

Tuesday 24 February 2004 10:30 CET | News

Identix has acquired 100 percent ownership of Sylvan Identix Fingerprint Centers, LLC. Sylvan Identix, now renamed Identix Identification Services (IIS), is a leader in electronic fingerprinting services.

The Companys services allow corporations and government agencies to outsource to IIS the 10-print biometric data capture and transmission to the FBI for applicant background checks. Fingerprint background checks have, in recent times, become a frequent requirement by employers and licensing agencies in the United States, and are in fact mandated by state and federal laws for more than a dozen job categories. IIS maintains a network of Identix live scan systems at processing centers across the Nation, where certified technicians process applicants quickly and easily. Up until this point in time, the Company was an equally owned joint venture founded in 1997 by Identix and Baltimore, MD-based Sylvan Learning Systems, Inc. Consideration for Sylvans portion of the business is a one-time payment of $875,000 by Identix to Sylvan. Identix expects the current base business of IIS to generate at least $6 million in additional annual revenue for Identix. The acquisition is expected to be both accretive from an operating income perspective and cash flow positive to Identix in the calendar 2004 year (the current accounting calendar of IIS).


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Categories: Payments & Commerce | Payments General
Countries: World
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