Similar to its use of Viisage products, the U.S. Government uses SecuriMetrics products in support of national security and homeland defense across various federal agencies.
â€œWe believe that the use of biometrics in the War on Terror, specifically iris recognition, could help prevent another 9/11 from happening,â€ said Lieutenant Colonel Kathy De Bolt, U.S. Army Battle Laboratory in Fort Huachuca, AZ. â€œSecuriMetricsâ€™ handheld device allows flexibility of use on the battlefield and provides a level of accuracy we have not seen before with biometrics. If the use of these devices can save just one life, we will have received benefit from our investment. Our goal is to use them to save many lives and win the War on Terror.â€
In addition to military applications, integrated biometrics are of particular importance for government initiatives, such as the U.S. Registered Traveler program that allows air passengers greater conveniences at airport security checkpoints in exchange for submitting to a background check and providing personal biometric data.
Other opportunities exist for the combined company within state and local law enforcement agencies, as well as public and private correctional facilities.
â€œMore and more organizations are requiring seamlessly integrated biometric solutions -- finger, face and iris -- and this acquisition will solidify Viisage as the new standard for identity solutions,â€ said Bernard Bailey, CEO of Viisage Technology. â€œTechnological advances required to maintain this high standard will continue, fueled by our development team that will represent one of the most qualified and largest group of finger, face and iris recognition experts in the world.â€
The transaction is expected to close by the end of February 2006 and is subject to customary closing conditions. It is expected to add approximately $15 million in revenue in 2006 and $3 million in EBITDA. Holders of a majority of SecuriMetrics preferred and common stock have agreed to vote in favor of the acquisition.