[HIB]3M to buy security firm Cogent for $943 million

Multinational conglomerate 3M has offered to buy security firm Cogent Systems for $943 million.The all-cash deal was announced today and is aimed at expanding 3M's ID card offering. One of Cogent's key products is its Automated Palmprint and Fingerprint Identification System (APFIS), which is employed by governments throughout the world. With both India and the UK to join the ID card list, 3M could secure some prosperous contracts.Cogent also offers a number of enterprise security services, which 3M will add to its authentication systems business. 3M revealed its aim is to target the government, law enforcement and commercial sectors.

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