3M Co. agreed to acquire Cogent Inc. in a deal valued at $943 million, though it will only pay $430 million thanks to the big cash pile the maker of fingerprint-identification systems has.

The deal will strengthen the industrial conglomerate's offerings in high-security ID systems and law-enforcement products.
3M will pay $10.50 a share, an 18% premium to Friday's closing price. The deal is structured as a tender offer, and a majority of the shares outstanding must to be tendered in support of the buyout for the acquisition to take place.
Cogent founder and Chief Executive Ming Hsieh has agreed to tender his nearly 38% stake. He expects to remain an ""integral part"" of the company.
Mike Delkoski, head of 3M's security systems division, said the deal expands the company's reach into access control and other commercial ID applications. (Source: Wall Street Journal)