MILWAUKEE, Feb. 9 /PRNewswire-FirstCall/ -- Brady Corporation (NYSE: BRC),
a world leader in identification solutions, today announced that it has
acquired GE IDenticard Systems, Inc. based in Lancaster, Penn., and its
Canadian affiliate IDenticam located in Markham, Ontario. Terms of the
transaction were not disclosed.
IDenticard, founded in 1970, is a market leader in personal
identification, access control and consumable identification badges. Known as
an innovator in security card technology, its products include identification
card systems that combine biometrics, digital imaging and other technologies
to positively identify people and prevent identification card counterfeiting;
and access control systems that restrict entry into buildings using multiple
card-reader technologies. IDenticam offers integrated photo identification
solutions, printers, supplies, accessories and visitor management solutions.
The companies, with 120 employees in the U.S. and 36 in Canada, have over
30,000 customers in healthcare, education, government and manufacturing. They
had combined 2005 sales of about $33 million (U.S.). IDenticard and IDenticam
were acquired by GE in March 2005 as part of its acquisition of Edwards
Systems Technology.
"With an increased importance on safety and security around the world, the
need for effective personal identification has never been greater.
IDenticard's proprietary products and advanced technologies in this area make
them a terrific addition to Brady's personal identification brands including
TEMPbadge, Stopware and J.A.M. Plastics in the U.S., and BIGBadge in the U.K
and France," said Tom Felmer, Brady vice president - Direct Marketing
Americas. "The acquisition of IDenticard and IDenticam further strengthens
our position in the personal identification market and establishes Brady as a
leader in card access security badges. We expect this acquisition to play a
key role in our global personal identification product strategy."
"We're very excited to be joining the Brady team," said IDenticard General
Manager Bob Hager. "Brady brings strong leadership with a commitment to
product development and innovation that will provide significant opportunities
for our growth and further enhance our focus on the customer."
Brady Corporation is an international manufacturer and marketer of
complete solutions that identify and protect premises, products and people.
Its products help customers increase safety, security, productivity and
performance and include high-performance labels and signs, safety devices,
printing systems and software, and precision die-cut materials. Founded in
1914, the company has more than 300,000 customers in electronics,
telecommunications, manufacturing, electrical, construction, education and a
variety of other industries. Brady is headquartered in Milwaukee and employs
about 5,500 people in operations in the United States, Europe, Asia/Pacific,
Latin America and Canada. Brady's fiscal 2005 sales were approximately
$816 million. More information is available on the Internet at
http://www.bradycorp.com and http://www.identicard.com .
This news release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 -- that is, statements
related to future, not past events. In this context forward-looking
statements often address our expected future business and financial
performance, and often contain certain words such as "expect, anticipate,
intend, plan, believe, seek, will, or may." Forward-looking statements by
their nature address matters that are, to different degrees uncertain. For
us, uncertainties arise from future financial performance of major markets we
serve which include, without limitation, telecommunications, manufacturing,
electrical, construction, laboratory, education, governmental, public utility,
computer, transportation; future integration of and performance of acquired
businesses; fluctuations in currency rates versus the US dollar; technology
changes; interruptions to sources of supply; business interruptions due to
implementing business systems; and numerous other matters of national,
regional and global scale, including those of a political, economic, business,
competitive and regulatory nature and those identified in reports we file with
the SEC. These uncertainties may cause our actual future results to be
materially different than those expressed in our forward-looking statements.
We do not undertake to update our forward-looking statements.
SOURCE Brady Corporation
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