Viisage closes SecuriMetrics buy
- By Ethan Butterfield
- Feb 21, 2006
Viisage Technology Inc. added to its growing roster of identification and biometric capabilities today with the acquisition of SecuriMetrics Inc., a provider of handheld iris recognition and other biometric devices and software.
The addition of SecuriMetrics of Martinez, Calif., is Billerica, Mass.-based Viisage's second acquisition of 2006. Viisage paid
$770 million in January for Identix Inc., another biometric and identification provider.
Viisage paid $28 million in cash for SecuriMetrics, which will add about $15 million in revenue to Viisage's bottom line in 2006. Viisage announced its intention to buy SecuriMetrics Feb. 6.
The cash portion of the purchase price is being funded out of the $100 million investment that L-1 Investment Partners made in Viisage in 2005.
Robert V. LaPenta, chairman and CEO of Viisage, said the acquisition of SecuriMetrics, which will continue to operate at its current location, adds complementary technology and better positions both companies to go after new biometrics opportunities in military applications and civil and consumer identification programs.
With the addition of SecuriMetrics' iris recognition ability, Viisage will offer multiple and multi-modal biometric capabilities, including finger-, face- and iris-recognition tools. The improved service suite could allow Viisage the opportunity for more work in national security and homeland defense in the United States and abroad, the company said in a statement.
SecuriMetrics offers hardware, software and services to capture, encode, transmit and recognize identity based on iris patterns. The company offers a handheld device that can store up to 200,000 individual iris images, perform searches and return results to an operator. Nearly 2,000 devices are currently deployed throughout conflict areas such as Iraq, Afghanistan, Pakistan, Cuba and Bosnia.
Viisage has about 211 employees and had revenues of $67.5 million in fiscal 2004, according to Hoover's Online of Austin, Texas.