Shareholders of L-1 Identity Solutions, a provider of identity and asset security systems for government and commercial customers, approved the merger of Viisage Technology and Identix today. The new company makes its debut on the New York Stock Exchange Aug. 30.
The company portfolio already includes Iridian Technologies, SecuriMetrics and Integrated Biometric Technology. All will be divisions of the new entity.
Joseph Paresi, L-1’s executive vice president and chief marketing officer, said L-1’s approach to the federal marketplace is to become a domain expert and partner with all the major integrators to implement biometrics and identification management programs.
He said L-1 is currently working with Lockheed Martin on four classified facial-recognition programs.
L-1’s two Washington, D.C., area offices in Crystal City, Va., and Fairfax, Va., will be combined as soon as he finds appropriate space, Paresi added.
“We want to have one face for the customer,” he said, and eliminate the overlap of Viisage and Identix customers, which include the State and Homeland Security departments.
Paresi said a reduction in force last month, in anticipation of the merger, resulted in about 100 people being let go. “We believe firmly that the business is going to grow,” he said. “We are positioned right for that.” He estimates that there are currently 600 employees.
He said there are about 24 federal business development employees in the Washington, D.C., metro area. “I expect that [number] to grow,” he said. “I think you’ll see some of those moves occur before the end of the year.”
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