L-1 Identity Solutions has sold its stake in the L-1 intelligence services businesses to U.K. defense, security and aerospace company, BAE Systems. The identity solutions and services supplier has received a total of $303 million from the sale of SpecTal, Advanced Concepts and McClendon businesses.After the deal, L-1 will consist of Secure Credentialing Solutions, Biometric and Enterprise Access Solutions and Enrollment Services. The seller will use the proceeds from the deal to repay outstanding indebtedness under its secured credit facility. The former L-1 intelligence services employees are joining the global defense and security company’s intelligence & security sector.
