- Email: [email protected]
Viisage posts solid results
BUSINESS WATCH
company news • ISL Biometrics and Cherry have signed a global agreement to provide all standard and advanced keyboards in the Cherry 14000 series with biometric authentication capabilities. The two companies have already worked closely on a number of bespoke projects, culminating recently in the installation of a large biometric project within the UK’s National Health Service. Cherry will offer customers a choice of biometric fingerprint readers built into either the keyboard or mouse. The company will also provide smart card capabilities for those customers looking for an extra layer of security. • IdentAlink has teamed up with Byometric Systems to add iris recognition capabilities to its identity management software. This adds to the supplier’s existing face and fingerprint options • Imagis Technologies has closed a private financing placement originally set at C$1,000,000. In the end, however, it was oversubscribed by C$603,150 and now comprises just over four million units at C$0.40. Each unit is made up from one common share and one common share purchase warrant. The total net proceeds to Imagis are C$1,534,150. • ImageWare Systems, a provider of digital imaging, identification and biometric software solutions, has signed an agreement with HP that will see its technology integrated into HP’s Adaptive Enterprise security strategy for the US federal government. Under the terms of the agreement, the companies will jointly market, sell and support efforts to provide products, services and solutions for US Federal Government projects, including biometrics to address various homeland security requirements.
6
merger
Saflink and SSP Litronic give merger details Biometric security solutions provider Saflink and SSP-Litronic, a supplier of identity management and information assurance products, have fleshed out the details of their proposed merger, announced in March this year. Reiterating their commitment to the merger, the companies said they anticipate filing the joint proxy statement/prospectus with the Securities and Exchange Commission in the first half of May. Meanwhile the companies are continuing to work on integration planning, and expect a closing date in the third quarter of 2004, subject to stockholder approval and regulatory review. Glenn Argenbright, Saflink’s president and chief executive officer commented: “We continue to be enthusiastic about the strategic benefits the transaction brings to both parties and are pleased with the progress we have made to date. Both parties are diligently working towards completing the transaction and remain committed to completing the merger as planned.” Under the terms of the merger, SAFLINK will acquire all outstanding shares of SSP-Litronic in a stock-for-stock transaction. This would leave SSP-Litronic shareholders with approximately 49% of the combined company’s outstanding fully-converted shares at closing. The two companies believe that their combined product offering can answer new legislative requirements in healthcare and financial services, and help meet the growing demand for the new “smart” passport and driver’s license. Contact: Thomas Doggett at Saflink, Tel: +1 800 762 9595, email: [email protected]
financials
Viisage posts solid results Facial recognition company Viisage has posted strong revenues for the first quarter of 2004 ended 28 March 2004, but did fall short of analysts’ expectations. Revenues for the quarter hit US$12.26 million, up from the US$8.16 million made in the same period of 2003. Despite the revenue gains, which propelled the company to its third consecutive record quarter, the books are still showing red with net losses for the quarter reaching US$1.63 million (US$0.05 per share). This was an improvement on the same period in 2003, however, when the supplier reported net losses of US$2.37 million.
The results fell short of analysts’ estimates thanks to the timing of a single shipment to the US Department of State for US$1.6 million, which was recognised during the first week of April. Based on its current performance, the supplier is bullish about its future prospects and increased its annual revenue guidance from US$57-$60 million to US$60-$63 million. Notably, the first quarter of 2004 had a number of milestones that indicate Viisage’s ambition to become an identity solutions company, combining biometrics, secure credentials, and other technologies. These included: • •
•
•
•
completion of the ZN acquisition and integration; completion of its acquisition of TDT, a provider of credentialing technologies including the US passport and smart cards; won a bid to provide the Department of State with an identity solution to reduce fraud in the Diversity Visa Programme; secured a US$734,000 face recognition contract extension to begin the third phase of the Pinellas County Sheriff ’s Office project including mobile deployment of the agency’s solution; received a contract extension from the Wisconsin Department of Transportation to continue producing digital drivers’ licences.
Contact: Ralf Biesemeier at Viisage, Tel: +49 234 9787 25, email: [email protected]
partnership
ISL Biometrics and A4Vision collaborate UK-based biometric middleware vendor ISL Biometrics has signed an OEM deal with A4Vision, a provider of 3D facial imaging and monitoring for enterprise wide access control security. The deal will see A4Vision’s technology integrated with ISL Biometrics’ SentriNET software, creating a “door-todesktop” solution that will enable customers to combine biometric-based physical and IT security According to Grant Evans CEO of A4Vision: “This is an outstanding opportunity for both our companies to demonstrate the power, flexibility and value proposition that biometrics can give to the enterprise. The OEM arrangement facilitates our expansion into critically sensitive government access markets.” The deal will see the companies work together on product development, integration, global sales and distribution.
Biometric Technology Today • June 2004
company news • ISL Biometrics and Cherry have signed a global agreement to provide all standard and advanced keyboards in the Cherry 14000 series with biometric authentication capabilities. The two companies have already worked closely on a number of bespoke projects, culminating recently in the installation of a large biometric project within the UK’s National Health Service. Cherry will offer customers a choice of biometric fingerprint readers built into either the keyboard or mouse. The company will also provide smart card capabilities for those customers looking for an extra layer of security. • IdentAlink has teamed up with Byometric Systems to add iris recognition capabilities to its identity management software. This adds to the supplier’s existing face and fingerprint options • Imagis Technologies has closed a private financing placement originally set at C$1,000,000. In the end, however, it was oversubscribed by C$603,150 and now comprises just over four million units at C$0.40. Each unit is made up from one common share and one common share purchase warrant. The total net proceeds to Imagis are C$1,534,150. • ImageWare Systems, a provider of digital imaging, identification and biometric software solutions, has signed an agreement with HP that will see its technology integrated into HP’s Adaptive Enterprise security strategy for the US federal government. Under the terms of the agreement, the companies will jointly market, sell and support efforts to provide products, services and solutions for US Federal Government projects, including biometrics to address various homeland security requirements.
6
merger
Saflink and SSP Litronic give merger details Biometric security solutions provider Saflink and SSP-Litronic, a supplier of identity management and information assurance products, have fleshed out the details of their proposed merger, announced in March this year. Reiterating their commitment to the merger, the companies said they anticipate filing the joint proxy statement/prospectus with the Securities and Exchange Commission in the first half of May. Meanwhile the companies are continuing to work on integration planning, and expect a closing date in the third quarter of 2004, subject to stockholder approval and regulatory review. Glenn Argenbright, Saflink’s president and chief executive officer commented: “We continue to be enthusiastic about the strategic benefits the transaction brings to both parties and are pleased with the progress we have made to date. Both parties are diligently working towards completing the transaction and remain committed to completing the merger as planned.” Under the terms of the merger, SAFLINK will acquire all outstanding shares of SSP-Litronic in a stock-for-stock transaction. This would leave SSP-Litronic shareholders with approximately 49% of the combined company’s outstanding fully-converted shares at closing. The two companies believe that their combined product offering can answer new legislative requirements in healthcare and financial services, and help meet the growing demand for the new “smart” passport and driver’s license. Contact: Thomas Doggett at Saflink, Tel: +1 800 762 9595, email: [email protected]
financials
Viisage posts solid results Facial recognition company Viisage has posted strong revenues for the first quarter of 2004 ended 28 March 2004, but did fall short of analysts’ expectations. Revenues for the quarter hit US$12.26 million, up from the US$8.16 million made in the same period of 2003. Despite the revenue gains, which propelled the company to its third consecutive record quarter, the books are still showing red with net losses for the quarter reaching US$1.63 million (US$0.05 per share). This was an improvement on the same period in 2003, however, when the supplier reported net losses of US$2.37 million.
The results fell short of analysts’ estimates thanks to the timing of a single shipment to the US Department of State for US$1.6 million, which was recognised during the first week of April. Based on its current performance, the supplier is bullish about its future prospects and increased its annual revenue guidance from US$57-$60 million to US$60-$63 million. Notably, the first quarter of 2004 had a number of milestones that indicate Viisage’s ambition to become an identity solutions company, combining biometrics, secure credentials, and other technologies. These included: • •
•
•
•
completion of the ZN acquisition and integration; completion of its acquisition of TDT, a provider of credentialing technologies including the US passport and smart cards; won a bid to provide the Department of State with an identity solution to reduce fraud in the Diversity Visa Programme; secured a US$734,000 face recognition contract extension to begin the third phase of the Pinellas County Sheriff ’s Office project including mobile deployment of the agency’s solution; received a contract extension from the Wisconsin Department of Transportation to continue producing digital drivers’ licences.
Contact: Ralf Biesemeier at Viisage, Tel: +49 234 9787 25, email: [email protected]
partnership
ISL Biometrics and A4Vision collaborate UK-based biometric middleware vendor ISL Biometrics has signed an OEM deal with A4Vision, a provider of 3D facial imaging and monitoring for enterprise wide access control security. The deal will see A4Vision’s technology integrated with ISL Biometrics’ SentriNET software, creating a “door-todesktop” solution that will enable customers to combine biometric-based physical and IT security According to Grant Evans CEO of A4Vision: “This is an outstanding opportunity for both our companies to demonstrate the power, flexibility and value proposition that biometrics can give to the enterprise. The OEM arrangement facilitates our expansion into critically sensitive government access markets.” The deal will see the companies work together on product development, integration, global sales and distribution.
Biometric Technology Today • June 2004