Dubai, UAE, June 23, 2019 – HID Global®, a worldwide leader in trusted identity solutions, today announced that it has signed an agreement to acquire the international identity solutions business of De La Rue (LSE:DLAR). The acquisition will broaden HID Global's leadership position in the government-to-citizen identification market and extend its capabilities.
Through its identity solutions business, De La Rue delivers identity documents and software solutions for governments around the world. It issues secure identity documents for more than 25 countries, with significant market presence in Africa, Asia, Europe, Latin America and the Middle East.
“With complementary products, solutions and services that are highly synergistic with HID Global's current offerings, De La Rue's identity solutions business is an excellent strategic fit with our mission to power the trusted identities of the world's people, places and things,” said Stefan Widing, President and CEO of HID Global. “Customers of both organizations will benefit from the expanded range of e-government solutions that will be offered as a result of the acquisition.”
De La Rue's identity solutions business excels as a prime solution provider to government departments, working directly with ministries of the interior, immigration departments, police departments, and numerous other government entities and agencies.
The acquisition is subject to regulatory approval and customary closing conditions. The transaction is expected to close by Q3 2019. Financial terms of the agreement are not being publicly disclosed. Following the close, De La Rue's identity solutions business will become a part of HID's Citizen Identity Solutions business area, which is led by Jessica Westerouen van Meeteren, Vice President and Managing Director.