TEL AVIV (MarketWatch) -- L-1 Identity Solutions Inc., /zigman2/quotes/209849927/composite ID -2.26% the Stamford, Conn., provider of solutions to secure people's identities and assets, definitively agreed to be acquired for $12 a share, or $1.09 billion, by Safran, /zigman2/quotes/205372374/delayed SAFRF -0.78% /zigman2/quotes/206963350/delayed FR:SAF -0.04% the Paris firm with interests in aerospace, defense and security. Separately, L-1 agreed to sell its intelligence-services operations to BAE Systems PLC, /zigman2/quotes/201745297/delayed BAESY -0.33% /zigman2/quotes/206753913/delayed UK:BA -0.10% the U.K. defense and aerospace firm, for $295.8 million. L-1 shares closed Friday at $9.70, indicating Safran is paying a premium of 24%. The deal value including the debt Safran will assume is $1.6 billion, the companies said in a Monday statement. L-1's board has approved the terms of both deals. Safran said it would finance the purchase with cash on hand. The deal is subject to conditions including antitrust review and clearance by the U.S. Committee on Foreign Investment in the U.S. For L-1 the deals culminate a review of strategic alternatives that the board began in January.
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