KIRKLAND, Wash., March 2 -- Saflink Corporation, a provider of identification, access and productivity solutions, has announced the sale of SAFsolution and SAFmodule source code to an industry-leading enterprise security solutions provider. According to the terms of the agreement, Saflink received $778,000 in cash and will also receive royalties on sales during the next three years that incorporate the SAFsolution or SAFmodule source code.
The buyer of Saflink's technologies is a privately-held entity with an established distribution and significant relationships with top-tier, global computer manufacturers. The opportunity includes the ability to bundle SAFsolution and SAFmodule into software that is included on laptops and PCs manufactured by the buyer's partners and sold to corporate, government and retail customers. Based on current sales projections from the buyer, Saflink believes the royalties could be a multi-million dollar income stream during the next three years. Other terms of the agreement include the buyer taking over Saflink's current customer base for SAFsolution and SAFmodule.
"We're very pleased to conclude this agreement and are excited about its positive financial impact to the future of Saflink," said Steve Oyer, CEO, Saflink. "This transaction confirms our commitment to the strategy of Saflink's core technology group - to leverage our strong intellectual property portfolio to strategic partners who can monetize our technologies with collaborative business models that are mutually beneficial."
These biometric middleware products provide enterprise-grade security through a variety of strong authentication methods, including biometrics and smart cards. SAFsolution integrates with Microsoft Windows Active Directory to boost network and workstation authentication security and simplify or eliminate password management. Similarly, SAFmodule brings biometric authentication to Novell eDirectory(TM) networks by coupling Saflink proven multi-biometric security components with the Novell Modular Authentication Service (NMAS).