April 6, 2010 (FinancialWire) — L-1 Identity Solutions, Inc. (NYSE: ID), a provider of identity solutions and services, said it has acquired substantially all of the tangible and intangible assets of Retica Systems, Inc.

According to L-1, the acquired assets included iris-on-the-move and iris-at–a-distance product inventory, algorithms and software, and related intellectual property rights and customer contracts.

L-1 said it expects the acquisition will accelerate its time-to-market in delivering highly-accurate and lower cost biometric solutions for large-scale civilian identity management programs that require cost-effective and rapid enrollment of significant numbers of people, or that need to identify people at a distance and on the move.

It said the applications are most commonly found in large scale entitlement and credentialing programs, as well as in border crossing, law enforcement and other security related initiatives.

L-1 said that the products, technology and intellectual property rights acquired from Retica are highly complementary to its existing iris recognition solutions portfolio.

Connecticut-based L-1 Identity Solutions has more than 2,200 employees worldwide.

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