FLO Corp. has agreed to acquire Unisys Corp.'s Registered Traveler assets for $8 million, according to a filing with the U.S. Securities and Exchange Commission. The companies expect the transaction to close by year-end, subject to Department of Homeland Security approval and other closing requirements.
The companies earlier this year entered into a "teaming agreement," through which FLO marketed Unisys's RtGO Registered Traveler offering. Through the ownership change, FLO said it would "leverage the RtGO platform, which has obtained all industry certifications necessary to operate in this emerging market."
FLO in the SEC filing said it is purchasing such assets as "enrollment and verification kiosks and related equipment, intellectual property, prepaid RtGO memberships, the designation and certification of Unisys' Registered Traveler technology and certain material contracts." FLO said it has enlisted Unisys as an information technology subcontractor and plans to pay royalties to the company through 2015.
Unisys Corp. in June launched Registered Traveler lanes at Reno-Tahoe International Airport, becoming the first competitor to Verified Identity Pass to launch lanes. FLO in an SEC filing said it plans to assume the operation of that airport program through the agreement. The two companies said they have submitted joint bids for yet-to-be-awarded contracts from Washington Dulles International Airport, Ronald Reagan Washington National Airport and Denver International Airport.
Meanwhile, a United States District Court last month dismissed a suit Verified Identity Pass filed that alleged computer hacking by a former employee who now works for FLO
(BTNonline, July 20).