L-1 Identity Solutions to Provide Secure Driver’s License Solution to Kentucky for a Total Value of Approximately $33.7 Million
STAMFORD, Conn.–(BUSINESS WIRE)– L-1 Identity Solutions, Inc. (NYSE: ID), a leading provider of identity solutions and services, was awarded a contract by the Commonwealth of Kentucky to provide a secure driver’s license solution with facial recognition as part of the Kentucky Transportation Cabinet’s effort to protect the public and prevent fraud. The contract with L-1 includes a base three-year term valued at approximately $11.1 million and three additional two-year extension options that bring the total contract value to approximately $33.7 million.
Kentucky uses an over-the-counter system for secure driver’s license issuance that includes fraud prevention processes such as photo first image capture and enrollment. The State also uses facial recognition technology designed, developed and maintained by L-1 to prevent persons from establishing duplicate identities.
Robert V. LaPenta, Chairman, President and CEO of L-1 Identity Solutions said, “We have worked with the Commonwealth of Kentucky since 2001 and we are honored to continue partnering with them to make Kentucky driver’s licenses one of the most secure and advanced identity documents in the Nation. The State has a focused vision for the future of its issuance process and our decades of experience, expansive customer base, field tested technology and innovative solutions, makes L-1 uniquely qualified to help the State achieve its goals.”
The contract was awarded to L-1 as the result of a competitive process.
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, as well as Enrollment and Government Consulting 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 has more than 2,200 employees worldwide and is headquartered in Stamford, CT. For more information, visit www.L1ID.com.
Forward Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release and those made from time to time by L-1 Identity Solutions through its senior management are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current views based on management’s 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 ability of the Company to maximize the term (including potential extensions) and the potential value of the contract, the availability of government funding for L-1’s products and solutions, the unpredictable nature of working with federal, state and local government customers, and general economic and political conditions. Additional risks and uncertainties are described in the Securities and Exchange Commission filings of L-1 Identity Solutions, including its Form 10-K for the year ended December 31, 2008. L-1 Identity Solutions expressly disclaims any intention or obligation to update any forward-looking statements.
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