Biometric security integrator and provider SAFLINK® Corp. has acquired the intellectual rights and assets to two companies’ digital identity and biometric-enhanced physical access security technology.
SAFLINK announced Dec. 29 a deal with Information Systems Support Inc. (ISS) and BioMetric Solutions Group Inc. (BSG) to pick up the two firms’ technologies and will hire key personnel from ISS and BSG to support it.
“The purchase of the BSG technology and the hiring of its personnel is a major event in the evolution of our company,” says SAFLINK CEO Glenn Argenbright. “We believe it will give us a significant competitive advantage in protecting our early success in what we consider to be the most promising markets for biometric security solutions.”
Under terms of the agreement – which has already been approved by the boards of all three firms and the stockholders of ISS and BSG – SAFLINK will pay approximately $4.1 million for the acquisition.
As a result of the transaction, SAFLINK will add a suite of physical access biometric products and technologies to its existing logical access products and solutions for network access.
