NEW YORK: The 3M Co company is trying to enroll in to security market by acquiring Cogent Inc for about $ 943 million. The company 3M’s products range from computer arms, films for LCD TV screens and post-its to respirators, while the Cogent manufactures automated systems including iris, face recognition systems and palm and finger prints reader systems used by government, law enforcement and border patrol agencies.

On Monday Cogent’s board of directors agreed to the contract and suggested to their shareholders to accept it. the company 3M said that it will pay $ 10.50 per share for Cogent or around 18 % above than closing price of Cogent’s share on Friday.

Ming Hsieh, Cogent’s founder and CEO, said in a statement that, “Together, we’ll deliver a broader range of identification and authentication solutions to the security industry and to our customers,”

An analyst with Sterne Agee, Nicholas P Heymann, said that 3M manufacturing border management products including passport, document reader, laminates and visa. Cogent should help 3M supply biometric security authorization products.

The acquisition is estimated to close by the year end and once the deal completed it result 9 to 10 cents charge per share. But 3M said that it also estimates the acquirement boost its income by 1 cent to 2 cents per share over the same period.