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8-K - FORM 8-K - L-1 IDENTITY SOLUTIONS, INC. | y04851e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT:
Doni Fordyce
L-1 Identity Solutions
203-504-1109
dfordyce@L1ID.com
L-1 Identity Solutions
203-504-1109
dfordyce@L1ID.com
L-1 Identity Solutions Files Form 10-Q with First Quarter 2011 Financial Results
STAMFORD, CT. May 10, 2011 L-1 Identity Solutions, Inc. (NYSE: ID), a
leading supplier of identity solutions and services, filed its Form 10-Q with the
Securities and Exchange Commission (SEC) containing financial results for the first
quarter ended March 31, 2011.
As previously disclosed, L-1 believes that the parties have made meaningful progress
with the Committee on Foreign Investment in the United States (CFIUS) in connection
with the pending acquisition of L-1 by Safran SA. CFIUS informed L-1 on May 4, 2011
that it had accepted the refiled joint notification which provides additional time to
negotiate the terms of a definitive mitigation agreement. This acceptance commenced a
new 30-day review period scheduled to expire on June 2, 2011.
L-1 expects the parties to work diligently in an effort to finalize the agreement as
quickly as practicable; however there can be no assurance that a definitive mitigation
agreement will be executed. L-1 expects the closing of the acquisition to occur
within 30-40 days from the May 4, 2011 acceptance by CFIUS of the refiling of the
joint notification. The closing is subject to the timing and successful completion of
the CFIUS process and assuming satisfaction or waiver of all other applicable
conditions.
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. (NYSE: ID) protects and secures personal identities and assets.
Its divisions include Biometrics / Enterprise Access and Secure Credentialing solutions and
Enrollment services. With the trust and confidence in individual identities provided by L-1,
international governments, federal and state agencies, law enforcement and commercial
businesses can better guard the public against global terrorism, crime and identity theft
fostered by fraudulent identity. L-1 Identity Solutions is headquartered in Stamford, CT.
For more information, visit www.L1ID.com.
Forward Looking Statements
This communication contains forward-looking statements that involve risks and
uncertainties. Forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995 and reflect the
Companys current views based on managements beliefs and assumptions and information
currently available. Forward-looking statements concerning future plans or results are
necessarily only estimates, and actual results could differ materially from
expectations. Certain factors that could cause or contribute to such differences
include, among other things, the availability of customer funding for L-1 products and
solutions, general economic and political conditions, the timing of consummating the
previously announced proposed merger with Safran SA, the risk that a condition to
closing such transaction may not be satisfied or waived, the risk that a regulatory
approval that may be required for such transaction is not obtained or is obtained
subject to conditions that are not anticipated and additional risks and uncertainties
described in the Securities and Exchange Commission filings of L-1 Identity Solutions,
including its Form 10-K for the year ended December 31, 2010 and its Form 10-Q for the
three months ended March 31, 2011 filed today.
L-1 Identity Solutions expressly disclaims any intention or obligation to update any
forward-looking statements.
ID:F
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