Viisage Technology Inc. and Identix Inc. said on Tuesday their merger, announced in January, has been completed, and the new company will continue as L-1 Identity Solutions Inc.The combined photo and fingerprint identity equipment maker, led by Chief Executive Robert LaPenta, will trade its shares under the ticker “ID” on the New York Stock Exchange from Wednesday.

The new company is named after LaPenta, whose L-1 Investment Partners bought $100 million of Viisage stock late last year.

LaPenta is well known in the defense industry for helping build up L-3 Communications Holdings Inc. into a major Pentagon contractor through a series of acquisitions. L-3 was named after LaPenta, his business partner Frank Lanza — who died in June — and investment bank Lehman Brothers Holdings Inc.

The new company expects fourth quarter revenue of about $60 million and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $15 million to $17 million.

Wall Street analysts had forecast fourth-quarter revenue of $56.5 million for Viisage, including the new Identix business. They forecast EBITDA of $11.4 million.

This entry was posted on Wednesday, August 30th, 2006 at 7:44 pm and is filed under Corporate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.