Polaroid Might Sell Its Photo ID Unit
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Polaroid Corp. said it has discussed the sale of its photo-identification unit with Littleton, Mass.-based Viisage Technology Inc. and with a group led by senior managers of the unit.
Polaroid is considering bids for its Identification Systems unit, spokesman Skip Colcord said. He didn’t give additional details. The unit sells driver’s license equipment and related services to 36 states and employs about 350 people worldwide.
Polaroid, which has had a loss in the last three quarters, recently defaulted on its bonds and is selling assets. Cambridge, Mass.-based Polaroid wouldn’t disclose sales from its identification business.
Polaroid shares fell 3 cents to close at $1.37 on the NYSE. Viisage shares were unchanged at $2 on Nasdaq.
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