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Summary Box: 3M buying Cogent

Mon, 08/30/2010 - 11:45am
The Associated Press

THE DEAL: 3M Co. whose products range from Post-Its to passports, is buying Cogent Inc. for about $943 million.

THE TARGET: Cogent develops automated systems that read finger and palm prints, and it makes iris and face recognition systems used by law enforcement and border patrol agencies.

THE REASON: 3M already has a business making identification and authentication systems, and the deal will help the company expand in the law enforcement and border patrol markets.

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