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In The News:

3M Agrees to Buy Cogent Inc.

3M (NYSE:MMM), St. Paul, MN, has agreed to acquire Cogent Inc., Pasadena, CA, for $943 million. Cogent Inc., commonly referred to as Cogent Systems, provides finger, palm, face and iris biometric systems for governments, law enforcement agencies, and commercial enterprises.

"Cogent Systems has done a tremendous job establishing a strong presence in the biometric industry," said Mike Delkoski, vice president and general manager, 3M Security Systems division. "Adding Cogent Systems' products to our business strengthens our product portfolio and services in high security credential issuance and authentication systems and positions 3M's business in law enforcement applications. It also expands our reach into access control and other commercial ID and authentication applications."

Identification and authentication solutions from 3M include border management products; document manufacturing and issuance systems for IDs, passports, and visas; document readers and verification products; and security materials, such as laminates, to protect against counterfeiting and tampering.

With approximately $130 million in revenue in 2009, Cogent Systems has operations in Ohio, Virginia, Austria, Canada, China, and the United Kingdom. Cogent Systems would be part of 3M's Security Systems Division.

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