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MMM 3M Company

97.01
-0.14 (-0.14%)
Last Updated: 18:32:58
Delayed by 15 minutes
Share Name Share Symbol Market Type
3M Company NYSE:MMM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.14 -0.14% 97.01 97.75 96.81 97.15 1,644,276 18:32:58

Gemalto to Buy 3M's Identity-Management Business

09/12/2016 2:50am

Dow Jones News


3M (NYSE:MMM)
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Digital security firm Gemalto NV has agreed to buy 3M Co.'s identity-management business for $850 million, 3M said Thursday.

The business, with about $215 million in sales a year, includes 3M Cogent, which 3M bought in 2010, and focuses on biometric systems, such as fingerprint and iris scanners, along with systems to issue and read secure documents, such as passports and identity cards.

The sale is expected to close in the first half of 2017.

3M said about 450 of its employees are expected to transfer to Netherlands-based Gemalto.

St. Paul, Minn.-based 3M, whose products include Post-it Notes and Scotch tape, has reported lower sales for seven quarters running. Through Sept. 30, its profit was up 2.6% though sales slid 0.85% to $22.78 billion.

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

December 08, 2016 21:35 ET (02:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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