The merger between face-recognition technology developers Viisage Technology and Germany’s ZN Vision Technologies AG has been completed. The deal, which had been announced in April, delayed by a need to issue more shares to replace those being given to ZN Vision employees.
“Our high quality technology and global presence place the combined company at the forefront of the identity solutions market,” says Viisage President and CEO Bernard Bailey. “We are eager to deliver these benefits to our customers and markets.”
As part of the deal – which unites one of the leading biometrics companies in the U.S. with one of Europe’s – ZN is exchanging all of its capital stock for more than 6 million Viisage shares.
Viisage also announces that the U.S. Department of State (DOS) Bureau of Consular Affairs has selected the company’s face-recognition technology to help reduce fraud and increase border security through the Diversity Visa program. Viisage was evaluated against two competing solutions and selected based on a number of criteria including accuracy, enrollment process, past performance, price and technical support.
