When a company announces its intent to buy another company, certain activities at both firms may be stalled.
This can be a good thing, as certain Motorola employees and IDEMIA lawyers know.
Motorola layoffs on hold
In late 2008 and early 2009 Motorola was in trouble—so much trouble that it would eventually bifurcate. (Heh.) So Motorola was laying off employees throughout the company…
…except in the Biometric Business Unit where I resided. Safran had announced its intent purchase that unit, and Motorola was obligated to deliver that unit to Safran intact.
So I kept my job…for another 12 years anyway.
IDEMIA lawsuit on hold
Anyway, Motorola’s Biometric Business Unit became part of Safran and then IDEMIA. And according to ID Tech, IDEMIA is the beneficiary of new acquisition activity.
“A legal dispute between South African Black Economic Empowerment (BEE) firm INFOVERGE and French multinational IDEMIA has stalled, with INFOVERGE citing ongoing acquisition activity involving IDEMIA’s South African subsidiary as the reason for the delay. The firm is seeking R39 million in damages over what it describes as a breach of contractual obligations by IDEMIA.
“INFOVERGE told reporters that it had been informed IDEMIA’s South African division is undergoing a corporate transaction, which has effectively paused the litigation process. ‘We’ve been told that the South African arm of IDEMIA is under acquisition … which leaves our legal matter in some kind of limbo as we wait,’ an INFOVERGE spokesperson said, adding that the prolonged delay is impacting their ability to fulfill their empowerment mandate.”
I’m not sure whether the completed IN Groupe acquisition is the culprit, or if the possible public security sale is to blame.
Bredemarket 