Summary Box: 3M buying Cogent in $943 million deal
By APMonday, August 30, 2010
Summary Box: 3M buying Cogent
THE DEAL: 3M Co. whose products range from Post-Its to passports, is buying Cogent Inc. for about $943 million.
THE TARGET: Cogent develops automated systems that read finger and palm prints, and it makes iris and face recognition systems used by law enforcement and border patrol agencies.
THE REASON: 3M already has a business making identification and authentication systems, and the deal will help the company expand in the law enforcement and border patrol markets.
YOUR VIEW POINT
