Digimarc approves $310M offer for ID systems business

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Digimarc Corporation (Nasdaq:DMRC) on Monday announced its board had unanimously approved the $310 million offer for its ID systems business from L-1 Identity Solutions, Inc. (NYSE:ID). The offer should close in the third quarter of this year, and Digimarc said it recommends its stockholders tender into the offer. Digimarc also said it had ended talks with Paris-based Safran SA about the purchase of the ID systems business. Shares of the Beaverton, Ore.-based Digimarc rose 5% to $14.06 on Monday while shares of Stamford, Conn.-based L-1 edged up 2.4% to $13.64. Both companies provide security-enhancing identity solutions.

For detailed price information and recent news stories on Digimarc Corporation, click DMRC. For information on L-1 Identity Solutions Inc., click ID.