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Digimarc Board Approves $310 Million All-Cash Offer from L-1 Identity Solutions for Digimarc's ID Systems Business
Date:6/30/2008

Digimarc Unanimously Approves Offer from L-1 and Terminates Discussions

with Safran

STAMFORD, Conn., June 30 /PRNewswire-FirstCall/ -- L-1 Identity Solutions ("L-1") (NYSE: ID), a leading provider of identity solutions and services, today announced that L-1 has signed an amended definitive merger agreement with Digimarc Corporation ("Digimarc") (Nasdaq: DMRC). The proposed transaction values the ID Systems Business of Digimarc at $310 million and offers Digimarc's stockholders increased consideration and certainty of value within a short time frame through the commencement of a tender offer by July 2, 2008. L-1 will finance the transaction through proceeds of a committed credit facility and private equity investments, including an investment by Robert V. LaPenta, Chairman, President and Chief Executive Officer of L-1 Identity Solutions.

The Digimarc Board of Directors unanimously supports the new offer from L-1 and is recommending that its stockholders tender into the offer. The Company has terminated discussions with Safran regarding their non-binding expression of interest in acquiring the ID Systems Business.

As previously announced on June 23, 2008, the Federal Trade Commission has granted early termination of the Hart-Scott-Rodino ("HSR") antitrust review process. Early termination of the HSR review removed a key closing condition to the proposed acquisition. Consummation of the transaction now requires only the completion of the tender offer, the spin-off of the
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SOURCE L-1 Identity Solutions
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