KEYWARE ACQUIRES FIRM FOR BIOMETRICS AUTHENTICATION
WOBURN, Mass., and ZAVENTEM, Belgium
Keyware, a provider of biometric and centralized authentication solutions, has acquired Data Management and Processing (DMP) for $1.1 million to strengthen Keyware’s existing biometric and smart card businesses. An additional $800,000 in Keyware stock will be paid out during the next two years. DMP is a provider of smart card authorization services for merchants and card issuers.
The acquisition will allow Keyware to offer secure biometric authentication in addition to providing authorization for each customer card transaction. “Security is a critical challenge for market acceptance of smart cards,” says Francis Declercq, president and CEO of Keyware. “By adding biometrics, we can authenticate the user before authorizing the transaction and enhance the security. This can open up a huge number of possible applications, especially for E-commerce and wireless transactions.”
Declercq adds that the acquisition of DMP furthers the company’s goal of bringing biometrics to a much larger audience. During the past year, DMP had revenues in excess of approximately $1.1 million.
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