Accelerates Time to Market for L-1 to Deliver Sophisticated, Low Cost Biometric
Capture Solutions for Large-Scale and High Volume Civilian Identity Management
Programs
STAMFORD, Conn.–(Business Wire)–
L-1 Identity Solutions, Inc. (NYSE: ID), a leading provider of identity
solutions and services, today announced it acquired substantially all of the
tangible and intangible assets of Retica Systems, Inc. including
iris-on-the-move and iris-at-a-distance product inventory, algorithms and
software, and related intellectual property rights and customer contracts. L-1
expects the acquisition will accelerate its time-to-market in delivering
highly-accurate and lower cost biometric solutions for large-scale civilian
identity management programs that require cost-effective and rapid enrollment of
significant numbers of people, or that need to identify people at a distance and
on the move. These applications are most commonly found in large scale
entitlement and credentialing programs, as well as in border crossing, law
enforcement and other security related initiatives.
The products, technology and intellectual property rights acquired from Retica
are highly complementary to L-1`s existing iris recognition solutions portfolio
that combines the power of L-1`s leading Automated Biometric Identification
System (ABIS) software platform with advanced Daugman algorithms and
state-of-the-art hardware devices such as HIIDE and PIER.
Industry tests affirm the top-tier performance and accuracy of the L-1 Daugman
iris algorithm that is incorporated into the ABIS platform and enables on-board
matching of multiple modalities on the HIIDE and iris capture with PIER units.
By acquiring Retica`s Rapid Match, L-1 obtains a set of iris encoding and
matching tools that may be used as an enhancement tool for L-1`s already
powerful Daugman algorithm to continue to expand and enhance its market lead.
Through the acquisition of Retica`s Mobile Eyes, a low cost, portable camera
that captures dual irises simultaneously, and Eagle Eyes, a device that
definitively identifies individuals within randomly moving crowds at variable
distances through the incorporation of surveillance video and dual-iris
recognition, L-1 adds new capabilities to its already robust portfolio of
multi-modal solutions.
“This asset acquisition gives us a greater range of solutions to address a wider
set of opportunities more quickly within the growing market of high-volume and
large-scale civilian identity management programs,” Robert V. LaPenta, Chairman,
President and CEO of L-1 Identity Solutions. “Our existing solutions continue to
dominate high-end identity management applications, such as those used by
military and foreign military services in areas of conflict. With the Retica
assets, we incorporate a solution that addresses broader market applications
requiring lower cost solutions without compromising speed or accuracy. The
Retica assets also open up new opportunities for L-1 outside of the government
market, particularly in commercial identity management applications used by the
gaming, hospitality, healthcare, and other industries.”
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. (NYSE: ID) protects and secures personal identities
and assets. Its divisions include Biometrics / Enterprise Access and Secure
Credentialing solutions, as well as Enrollment and Government Consulting
services. With the trust and confidence in individual identities provided by
L-1, international governments, federal and state agencies, law enforcement and
commercial businesses can better guard the public against global terrorism,
crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions
has more than 2,200 employees worldwide and is headquartered in Stamford, CT.
For more information, visit www.L1ID.com.
Forward Looking Statements
This news release contains forward-looking statements that involve risks and
uncertainties. Forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995 and reflect
the Company’s current views based on management’s beliefs and assumptions and
information currently available. Forward-looking statements concerning future
plans or results are necessarily only estimates; actual results could differ
materially from expectations. Certain factors that could contribute to such
differences include, among other things, the availability of government funding
for L-1′s products and solutions, the unpredictable nature of working with
federal, state and local government customers, and general economic and
political conditions. Additional risks and uncertainties are described in the
Securities and Exchange Commission filings of L-1 Identity Solutions, including
its Form 10-K for the year ended December 31, 2009. L-1 Identity Solutions
expressly disclaims any intention or obligation to update any forward-looking
statements.
ID-V
L-1 Identity Solutions
Doni Fordyce, 203-504-1109
dfordyce@L1ID.com
Copyright Business Wire 2010