Bob LaPenta Comments on Recent Identix Stock Purchase
February 15 2006 - 3:58PM
Business Wire
Mr. Robert V. LaPenta, founder and CEO of L-1 and chairman of the
board for Viisage (Nasdaq: VISG) today announced the purchase of
300,000 shares of Identix (Nasdaq: IDNX) common stock, simultaneous
to a sale of a similar amount of shares by Identix chairman and
CEO, Dr. Joseph Atick. In a separate release issued today by
Identix, Dr. Atick stated that sale was made to meet personal and
family financial commitments. Mr. LaPenta, who will become chairman
and CEO of the combined company following the pending merger
between Viisage and Identix, reaffirmed his commitment to the
ongoing transaction scheduled to close in the second quarter of
2006. Facilitated by L-1 Investment Partners, identity solutions
provider Viisage Technology and biometric technology innovator
Identix Incorporated last month entered into a definitive agreement
to merge. The combined company will blend two complementary
approaches to solving the challenge of protecting and securing
personal identities by establishing what is believed to be the
industry's most comprehensive single platform for multi-modal
finger, face, skin and imaging identity solutions. About L-1
Investment Partners L-1 Investment Partners LLC was founded in June
2005 by Robert V. LaPenta, former President, Chief Financial
Officer and co-founder of L-3 Communications. L-1 invests in public
and private entities in the biometric technologies and security
solutions sector and provides both growth capital and management
expertise to assist its portfolio companies in building their
businesses. Mr. LaPenta has more than 30 years of executive
management experience, completing more than 60 acquisitions and
creating billions of dollars of shareholder wealth. For more
information, visit the Web at www.L-1IP.com or call 203-504-1100.
This news release contains forward-looking statements that involve
risks and uncertainties. Forward-looking statements in this
document and those made from time to time by Viisage 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 with
respect to the future events or financial performance discussed in
this release, based on management's beliefs and assumptions and
information currently available. When used, the words "believe",
"anticipate", "estimate", "project", "should", "expect", "plan",
"assume" and similar expressions that do not relate solely to
historical matters identify forward-looking statements.
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, in
particular, the size and timing of contract awards, performance on
contracts, performance of acquired companies, availability and cost
of key components, unanticipated results from audits of the
financial results of the Company and acquired companies, changing
interpretations of generally accepted accounting principles,
outcomes of government reviews, developments with respect to
litigation to which we are a party, potential fluctuations in
quarterly results, dependence on large contracts and a limited
number of customers, lengthy sales and implementation cycles,
market acceptance of new or enhanced products and services,
proprietary technology and changing competitive conditions, system
performance, management of growth, dependence on key personnel,
ability to obtain project financing, general economic and political
conditions and other factors affecting spending by customers, and
the unpredictable nature of working with government agencies. In
addition, such risks and uncertainties include, among others, the
following risks: that the merger with Identix will not close, that
the regulatory or shareholder approval will not be obtained, that
the closing will be delayed, that customers and partners will not
react favorably to the merger, integration risks, the risk that the
combined companies may be unable to achieve cost-cutting synergies,
and other risks described in Viisage's and Identix' Securities and
Exchange Commission filings, including the Registration Statement
on Form S-4 to be filed with the SEC in connection with the
transaction, Viisage's Annual Report on Form 10-K for the year
ended December 31, 2004 and its Quarterly Reports on Form 10-Q for
the quarters ended April 3, 2005, July 3, 2005 and October 2, 2005
under the captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations," and
Identix' Annual Report on Form 10-K for the year ended June 30,
2005 and its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2005 under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations." Viisage and Identix expressly disclaim any
obligation to update any forward-looking statements. Additional
Information and Where to Find It Investors and security holders of
both Viisage and Identix are advised to read the joint proxy
statement/prospectus regarding the business combination transaction
referred to in the material below, when it becomes available,
because it will contain important information. Viisage and Identix
expect to mail a joint proxy statement/prospectus about the
transaction to their respective stockholders. This joint proxy
statement/prospectus will be filed with the Securities and Exchange
Commission by both companies. Investors and security holders may
obtain a free copy of the joint proxy statement/prospectus and
other documents filed by the companies at the Securities and
Exchange Commission's web site at http://www.sec.gov. The joint
proxy statement/prospectus and such other documents may also be
obtained from Viisage or Identix by directing such requests to the
companies. Participants In Solicitation Viisage, Identix and their
respective directors and executive officers and other members of
management and employees may be deemed to be participants in the
solicitation of proxies in respect of the merger. Information
concerning Viisage's participants is set forth in the proxy
statement dated, November 21, 2005, for Viisage's special meeting
of shareholders held on December 16, 2005 as filed with the SEC on
Schedule 14A. Information concerning Identix' participants is set
forth in the proxy statement, dated October 6, 2005, for Identix'
2005 annual meeting of shareholders as filed with the SEC on
Schedule 14A. Additional information regarding the interests of
participants of Viisage and Identix in the solicitation of proxies
in respect of the merger will be included in the registration
statement and joint proxy statement/prospectus filed with the SEC.
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