- Email: [email protected]
Nexus Group buys 50% of face and SR company AcSys
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BUSINESS WATCH
Company News • Recently formed Israeli biometric systems integrator OptiSec has been running tests over the last six months using Recognition Systems’ HKII hand recognition device for its time and attendance and access control system. The tests have been conducted at two hotel chains and by FedEx. Tests have also been performed at an institute for the retarded, where some employees have been using BioTime, which is off-theshelf middleware designed to interface with any T&A software (using an ASCII file). Marketing of BioTime in Israel will begin in July and extend to Turkey in August and Greece in September. • US supplier eTrue has chosen Swedish manufacturer Precise Biometrics to be the preferred provider of fingerprint technology for its biometric logon service. eTrue uses its own technology, TrueFace, for the face recognition part of the service. Precise Biometrics’ fingerprint readers are sensor independent and have the capability of integrating with smart cards.
• Viisage
Technology has teamed up with RAPOR, a developer and provider of integrated security portal systems. RAPOR has integrated Viisage’s face-recognition FacePASS system with its Fast Trac portal system. RAPOR’s systems combine components, such as metal detectors, access control devices, monitoring systems and sensors to provide secure, rapid and sophisticated portal access. The systems are targeted for application areas, such as airports, schools, government facilities, courthouses and high-end commercial offices and manufacturing plants. RAPOR hopes the addition of face-recognition technology will increase security levels while maintaining a satisfactory throughput speed.
6
Company News
Company News
Keyware makes 15% staff cuts and closes Asian office
LCI SMARTpen stays on track for 2001/2002 IPO
Belgian supplier Keyware has announced a programme of cuts and office closures that will see the number of its employees fall by 15% worldwide. According to Keyware, the cuts are necessary to cut down on function overlap following the acquisition of numerous companies in recent months. The current economic slowdown and lower levels of spending in the technology sector are undoubtedly also a factor. Some 40 employees in Europe and the USA will be axed, mainly in administrative, support staff and sales and marketing functions. The company also said it would be closing its fourperson office in Singapore as part of the programme. Other facilities will be centralized in Belgium. The move leaves Keyware will approximately 270 employees in Belgium, Boston and Washington, D.C. and is expected to generate annual cost savings up to US$6million per year. The company says the cuts will have no effect on its future product releases. Structurally, Keyware will incorporate its Internet Applications division into its Technology & Solutions Division.
LCI Technology Group has pumped significant amounts of money into its dynamic signature verification product SMARTpen. Since its inception, LCI has financed development costs to the tune of approximately 19.6 million (US$16.6 million), of which 11.4 million was provided during the last year. These developments have intensified recently in anticipation of a separate SMARTpen public listing, which is due to take place in the financial year 2001/2002. LCI is also preparing for a private placement initiative of LCI-SMARTpen shares to be completed prior to the IPO. According to the supplier, LCI-SmartPen will continue to require a substantial amount of cash to fund marketing, additional application development and the production of a large volume of pens. LCI hopes that it can generate more than US$200 per year in licensing income for each pen. Over the last year LCI increased its shareholding in LCI-SmartPen from 75% to over 95%.
Contact: Elizabeth Marshall at Keyware, Tel: +1 781 933 1311, email: [email protected]
Contact: Sam Asseer at LCI , Tel: +31 73 64 55 290, Fax: +31 73 64 55 296, email: [email protected]
Aquisition Acquisition
Nexus Group buys 50% of face and SR company AcSys
Universal snaps up Cavio
Nexus Group International has acquired a 50% stake in facial and speech recognition technology supplier AcSys Biometrics Corporation. The deal is worth an estimated US$3.37 million, made up from US$245,000 in cash and 25 million Nexus common shares (worth US$0.125 on 22 June, the last full trading day prior to the announcement). AcSys Biometrics holds the exclusive worldwide license to HNeT, face and speech recognition software designed for the financial, manufacturing, security and medical sectors. AcSys was a joint venture between Nexus Group International and AND Corporation, the inventor and developer of HNeT.
Universal Domains has acquired Cavio Corporation, a privately held company using thumb, finger and hand recognition software to authenticate participants in high-value online trading transactions. Cavio’s system is designed to guarantee the identities of both buyer and seller. It is initially being targeted at import/export merchants, but will be introduced to retail and financial institutions in the future. Most recently Cavio successfully secured contracts with commodity industry company CheMatch and Planet Rice, which should lead to revenue generation of approximately US$750,000 and US$1,000,000 respectively within the first 12 months, the company claims.
Acquisition
Acquisition
Contact: Darlene Marks at Nexus, Tel: +1 905 634 4111, Fax: +1 905 634 1101
Contact: Mark White at Universal Domains, Tel: +1 818 871 9456
Biometric Technology Today • July/August 2001
7/27/01
4:58 PM
Page 6
BUSINESS WATCH
Company News • Recently formed Israeli biometric systems integrator OptiSec has been running tests over the last six months using Recognition Systems’ HKII hand recognition device for its time and attendance and access control system. The tests have been conducted at two hotel chains and by FedEx. Tests have also been performed at an institute for the retarded, where some employees have been using BioTime, which is off-theshelf middleware designed to interface with any T&A software (using an ASCII file). Marketing of BioTime in Israel will begin in July and extend to Turkey in August and Greece in September. • US supplier eTrue has chosen Swedish manufacturer Precise Biometrics to be the preferred provider of fingerprint technology for its biometric logon service. eTrue uses its own technology, TrueFace, for the face recognition part of the service. Precise Biometrics’ fingerprint readers are sensor independent and have the capability of integrating with smart cards.
• Viisage
Technology has teamed up with RAPOR, a developer and provider of integrated security portal systems. RAPOR has integrated Viisage’s face-recognition FacePASS system with its Fast Trac portal system. RAPOR’s systems combine components, such as metal detectors, access control devices, monitoring systems and sensors to provide secure, rapid and sophisticated portal access. The systems are targeted for application areas, such as airports, schools, government facilities, courthouses and high-end commercial offices and manufacturing plants. RAPOR hopes the addition of face-recognition technology will increase security levels while maintaining a satisfactory throughput speed.
6
Company News
Company News
Keyware makes 15% staff cuts and closes Asian office
LCI SMARTpen stays on track for 2001/2002 IPO
Belgian supplier Keyware has announced a programme of cuts and office closures that will see the number of its employees fall by 15% worldwide. According to Keyware, the cuts are necessary to cut down on function overlap following the acquisition of numerous companies in recent months. The current economic slowdown and lower levels of spending in the technology sector are undoubtedly also a factor. Some 40 employees in Europe and the USA will be axed, mainly in administrative, support staff and sales and marketing functions. The company also said it would be closing its fourperson office in Singapore as part of the programme. Other facilities will be centralized in Belgium. The move leaves Keyware will approximately 270 employees in Belgium, Boston and Washington, D.C. and is expected to generate annual cost savings up to US$6million per year. The company says the cuts will have no effect on its future product releases. Structurally, Keyware will incorporate its Internet Applications division into its Technology & Solutions Division.
LCI Technology Group has pumped significant amounts of money into its dynamic signature verification product SMARTpen. Since its inception, LCI has financed development costs to the tune of approximately 19.6 million (US$16.6 million), of which 11.4 million was provided during the last year. These developments have intensified recently in anticipation of a separate SMARTpen public listing, which is due to take place in the financial year 2001/2002. LCI is also preparing for a private placement initiative of LCI-SMARTpen shares to be completed prior to the IPO. According to the supplier, LCI-SmartPen will continue to require a substantial amount of cash to fund marketing, additional application development and the production of a large volume of pens. LCI hopes that it can generate more than US$200 per year in licensing income for each pen. Over the last year LCI increased its shareholding in LCI-SmartPen from 75% to over 95%.
Contact: Elizabeth Marshall at Keyware, Tel: +1 781 933 1311, email: [email protected]
Contact: Sam Asseer at LCI , Tel: +31 73 64 55 290, Fax: +31 73 64 55 296, email: [email protected]
Aquisition Acquisition
Nexus Group buys 50% of face and SR company AcSys
Universal snaps up Cavio
Nexus Group International has acquired a 50% stake in facial and speech recognition technology supplier AcSys Biometrics Corporation. The deal is worth an estimated US$3.37 million, made up from US$245,000 in cash and 25 million Nexus common shares (worth US$0.125 on 22 June, the last full trading day prior to the announcement). AcSys Biometrics holds the exclusive worldwide license to HNeT, face and speech recognition software designed for the financial, manufacturing, security and medical sectors. AcSys was a joint venture between Nexus Group International and AND Corporation, the inventor and developer of HNeT.
Universal Domains has acquired Cavio Corporation, a privately held company using thumb, finger and hand recognition software to authenticate participants in high-value online trading transactions. Cavio’s system is designed to guarantee the identities of both buyer and seller. It is initially being targeted at import/export merchants, but will be introduced to retail and financial institutions in the future. Most recently Cavio successfully secured contracts with commodity industry company CheMatch and Planet Rice, which should lead to revenue generation of approximately US$750,000 and US$1,000,000 respectively within the first 12 months, the company claims.
Acquisition
Acquisition
Contact: Darlene Marks at Nexus, Tel: +1 905 634 4111, Fax: +1 905 634 1101
Contact: Mark White at Universal Domains, Tel: +1 818 871 9456
Biometric Technology Today • July/August 2001