L-1 Identity Solutions Inc. (ID) announced the sale of the L-1 intelligence services businesses to BAE Systems, Inc. (BA.L). The purchase price includes $295.8 million in cash and approximately $7.2 million of certain assumed obligations for a total value of $303.0 million.
With the BAE Systems transaction completed, L-1 is now comprised of Secure Credentialing Solutions, Biometric and Enterprise Access Solutions and Enrollment Services. The net cash proceeds from the sale of the L-1 intelligence services businesses is being used to repay outstanding indebtedness under L-1's secured credit facility including the full amount of the term loans and a portion of the outstanding borrowings under the revolving credit facility, leaving a remaining balance of less than $50.0 million.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.