Reynolds Advisory Partners acts as exclusive financial Advisor to E-Seek on its sale to Veridos
April 03, 2018 (PRLEAP.COM) Technology NewsLOS ANGELES, California, April 3, 2018 — Reynolds Advisory Partners, LLC ("RAP" or "Reynolds") acted as the exclusive financial advisor to E-Seek Inc. ("E-Seek") on its sale to Veridos GmbH ("Veridos") of Berlin, Germany. The transaction was completed on March 27, 2018. Financial terms were not disclosed.
E-Seek, based in San Diego, California, is a leading developer and marketer of unique ID card readers and authentication devices, for driver's licenses and other identification cards. E-Seek produces devices that quickly and accurately read and collect data (including images and security features) contained within driver's licenses and other ID cards, and its M500 authentication product is able to quickly and accurately collect data for purposes of authenticating such cards. The speed and accuracy of E-Seek's products, as well as their compact size and reliability, make them the top choice for many law enforcement agencies, financial institutions, retailers, and government departments and agencies. E-Seek was privately owned.
Veridos, based in Berlin, Germany, creates secure and pioneering identification and identity solutions for markets around the world. The Veridos portfolio includes complete solutions for the production and personalization of passport documents, ID cards, driver's licenses, and healthcare cards. These products are complemented by state-of-the-art management systems for personalization, issuance, and documentation, as well as solutions for personal identification, voter registration, and border control.
Andy Anderson, E-Seek's retiring President, commented as follows: "Brian MacLeod at Reynolds Partners was instrumental in achieving this successful transaction. His exceptional skills and experience as an M&A expert were evident throughout the M&A process, and his conscientious dedication was essential to the highly successful outcome from the process. We are grateful to Brian for his great efforts."
Ali Lebaschi, E-Seek's Founder and Chief Technology Officer, who is now continuing as Managing Director of E-Seek, a subsidiary of Veridos, stated as follows: "I would echo Andy's statements regarding our gratitude to Brian MacLeod and his team at Reynolds Advisory Partners for orchestrating our M&A process. I would add that in identifying prospective acquirers for E-Seek, and in the eventual communications and negotiations with Veridos, Brian always focused on achieving the Board's objectives for the transaction. Our objectives included maximizing shareholder value and also finding the right M&A partner that would be the best fit for our stakeholders. The E-Seek team is now delighted to continue growing E-Seek as part of the first-class Veridos group of companies."
Brian MacLeod, Managing Director at Reynolds, stated: "We are pleased to have assisted E-Seek in achieving a successful result from this M&A process. The combination of E-Seek and Veridos will be beneficial to customers of both companies, as E-Seek's current products are complementary and additive to Veridos's solutions, and Veridos also has acquired a highly skilled engineering team that will enable Veridos to develop additional new products and technologies for its customers around the world."
Mr. MacLeod added: "The E-Seek/Veridos transaction is representative of our firm's broad industry experience in providing M&A advisory services to technology providers in different industries, including companies such as E-Seek that are involved in border control, national security (homeland security), physical premises/facility security, access control, and other retail and commercial applications."
About E-Seek Inc.
E-Seek Inc. is a leading developer and marketer of unique ID card reader and authentication devices, for government-issued driver's licenses and other ID cards. In addition to producing fast and accurate readers of data contained in licenses and ID cards, the compact size and reliability of E-Seek's products make them the choice for many law enforcement authorities, financial institutions, retailers, and government agencies. E-Seek is based in San Diego, California.
About Veridos GmbH
Veridos GmbH creates secure and pioneering identification and identity solutions for markets around the world. Whenever citizens disclose their identity – in either analog or digital format – they can rely on Veridos solutions. The Veridos portfolio includes complete solutions for the production and personalization of passport documents, ID cards, driver's licenses, and healthcare cards. These products are complemented by state-of-the-art management systems for personalization, issuance, and documentation, as well as solutions for personal identification, voter registration, and border control. With these solutions, Veridos offers its customers a unique product portfolio from a single source. Founded in January 2015, Veridos is a joint venture between Giesecke & Devrient GmbH (Munich, Germany), which owns 60% of Veridos, and Bundesdruckerei GmbH (Berlin, Germany), which owns 40%. Veridos combines the expertise of the two largest German providers for high-security technologies to serve international markets. Veridos has its headquarters in Berlin, with an office in Munich. In addition, Veridos is represented by production sites and sales & marketing branches in Brazil, Mexico, the United States, Canada, Greece, the United Arab Emirates, and Singapore.
About Reynolds Advisory Partners, LLC
Reynolds Advisory Partners, LLC is a boutique investment bank based in Los Angeles, California, serving clients nationally and abroad, with a focus on the "middle market". RAP provides a full suite of financial advisory services for mid-size and growing companies, including mergers, acquisitions, divestitures, restructurings, and the issuance of debt and equity capital. RAP's professionals also have extensive experience in advising Independent/Special Committees of both public and private companies, of all sizes, in facing complex issues, including evaluating related party transactions.
For more information, visit www.reynoldsap.com.
Reynolds Advisory Partners, LLC - Investment Banking Contact:
Brian MacLeod, Managing Director: firstname.lastname@example.org. 310-318-9674
Source: Reynolds Advisory Partners, LLC