Identicator, Inc got bought...
December 03, 2001 08:42
Armor Holdings, Inc. Acquires Identicator, Inc.,
Expands Presence in Forensic Products Niche
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JACKSONVILLE, Fla., Dec. 3 /PRNewswire/ -- Armor Holdings, Inc. (NYSE:
AH) announced today that it acquired substantially all of the assets of
Identicator, Inc. ("Identicator"), a leading manufacturer and distributor of a
complete line of paper-based fingerprint identification products used by
financial, retail, security services, government and law enforcement
agencies.
Armor paid $5.4 million, primarily in common stock by issuing 214,880
shares to the seller. Identicator had $3.2 million in revenues for its fiscal
year ended March 31, 2001, and approximately $2.0 million of net cash on
its balance sheet at closing.
Jonathan Spiller, President and CEO of Armor Holdings, Inc., said,
"Identicator will be moved into our Jacksonville facility and integrated into
our Armor Holdings Products division. This acquisition continues our
strategy of buying leading and established brands in the law enforcement
business. The Identicator brand name will complement our existing NIK and
Lightning Powder brands as we continue to build our forensics products
line."
About Identicator, Inc.
Founded in 1971 and based in El Segundo, California, Identicator
manufactures and designs a broad range of proprietary fingerprinting
products and systems to solve current and future identification problems
encountered by business, government and law enforcement agencies.
These products and systems deter fraud and produce positive
verification/identification in many different applications.
About Armor Holdings
Armor Holdings, included in FORTUNE magazine's list of "America's 100
Fastest Growing Companies" in 1999 and 2000, and a member of the S&P
Smallcap 600 Index, is a leading manufacturer of security products for law
enforcement personnel around the world through its Armor Holdings
Products division and is the world's largest and most experienced
passenger vehicle armoring manufacturer through its Mobile Security
division. Armor Holdings is also a leading global provider of security risk
management services to multi-national corporations and government
agencies through its ArmorGroup Services division. Armor Holdings
Products manufactures and sells a broad range of high quality branded law
enforcement equipment. Such products include ballistic resistant vests and
tactical armor, less-lethal munitions, safety holsters, batons, anti-riot
products and a variety of crime scene related equipment, including narcotic
identification kits. Armor Holdings Mobile Security, through its Commercial
Products division, armors a variety of vehicles, including limousines, sedans,
sport utility vehicles, and money transport vehicles, to protect against
varying degrees of ballistic and blast threats. Through its Military Products
division, it is the prime contractor to the U.S. Military for the supply of
armoring and blast protection for High Mobility Multi- purpose Wheeled
Vehicles, commonly known as HMMWVs. Armor Group Services provides
sophisticated security planning and risk management, electronic security
systems integration, consulting and training services, advanced driver
training, threat recognition and avoidance training and training in firearms
safety and use, as well as intellectual property asset protection, business
intelligence and investigative services.
Statements in this press release may be forward looking. Actual events will
be dependent upon factors and risks including, but not limited to, the
Company's ability to: manufacture and market its core products; provide a
variety of services to its customers on a global basis; respond to new laws
and regulations; continue its strategy of growth by acquisition; manage the
impact of foreign exchange; as well as the Company's ability to manage
uncertainties and risk factors, including those described from time to time in
the Company's filings with the Securities and Exchange Commission,
specifically, the Company's 2000 Form 10K and its most recent Form 10Qs.
The Company undertakes no obligation to make any revisions to the
forward-looking statements contained in this release or to update them to
reflect events or circumstances occurring after the date of this release.
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SOURCE Armor Holdings, Inc.
/CONTACT: Jonathan M. Spiller, President and Chief Executive Officer, or
Robert R. Schiller, Executive Vice President & Chief Financial Officer, both
of Armor Holdings, Inc., +1-904-741-5400/
/Web site: armorholdings.com /
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steve |
