HID Global Acquires Biometric Leader Lumidigm, Enhances Authentication Portfolio
Acquisition brings unique capabilities for intelligent biometric fingerprint acquisition and authentication.
Acquisition extends HID Global's authentication portfolio while positioning the company to deliver a variety of new secure identity solutions into more applications.
Lumidigm's patented multispectral imaging technology overcomes problems with traditional biometrics, particularly in harsh environments.
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AUSTIN, Texas - February 10, 2014 (www.investorideas.com newswire) HID Global®, a worldwide leader in secure identity solutions, today announced the acquisition of Lumidigm®, a global leader in authentication solutions that use multispectral imaging technology, software, and biometric fingerprint sensors to authenticate identities with a high degree of certainty. The acquisition extends HID Global's authentication portfolio while positioning the company to deliver a variety of new secure identity solutions.
"This acquisition will enable Lumidigm to take advantage of HID Global's size, channel and product development strengths to exploit a variety of important new market opportunities"
"Lumidigm's proven product portfolio will enhance our current strong authentication offerings, especially for healthcare, financial institutions and other high-security environments," said HID Global President and CEO Denis Hébert. "The company has unique technology protected by a large patent portfolio and proprietary algorithms and has achieved strong penetration in key emerging markets including South America and Africa. Additionally, Lumidigm has a premier global customer base across multiple strategically important markets. We are extremely pleased to have Lumidigm's talented team join the HID Global family."
Lumidigm's technology solves problems with traditional biometric technology, whose contact-based measurement accuracy is degraded by non-ideal skin condition, poorly-defined or damaged fingerprints, and adverse environmental conditions. In contrast, multispectral imaging technology uses multiple light spectrums and advanced polarization techniques to extract unique fingerprint characteristics from both the surface and subsurface of the skin. This additional data enables multispectral imaging-based solutions to deliver the highest-quality fingerprint image and to more effectively discriminate real from imposter or "spoof" fingerprints.
"This acquisition will enable Lumidigm to take advantage of HID Global's size, channel and product development strengths to exploit a variety of important new market opportunities," said Bob Harbour, Executive Chairman of Lumidigm and Chairman and President of the International Biometrics & Identification Association. "As part of HID Global, Lumidigm can expand its current business while also extending proven technology beyond finger- and hand-based applications into iris, facial and other smart imaging systems. The combined company will also have the opportunity to apply multispectral imaging capabilities to credential acquisition and authentication, gesture recognition, and other image-based process control systems, making multi-factor authentication on a single, integrated device a reality."
Imperial Capital, LLC served as the exclusive financial advisor to Lumidigm in this transaction.
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About HID Global
HID Global is the trusted source for innovative products, services, solutions, and know-how related to the creation, management, and use of secure identities for millions of customers around the world. The company's served markets include physical and logical access control, including strong authentication and credential management; card printing and personalization; visitor management systems; highly secure government and citizen ID; and identification RFID technologies used in animal ID and industry and logistics applications. The company's primary brands include ActivID®, EasyLobby®, FARGO®, IdenTrust®, LaserCard® and HID®. Headquartered in Austin, Texas, HID Global has over 2,100 employees worldwide and operates international offices that support more than 100 countries. HID Global® is an ASSA ABLOY Group brand. For more information, visit www.hidglobal.com.
Lumidigm Inc., a global leader in authentication solutions is dedicated to enabling convenient, secure, and reliable identification of people, products and credentials. Developed with "real world" performance as a priority, Lumidigm's multispectral imaging technology, innovative software and biometric fingerprint sensors allow customers to know "who" or "what" to a high degree of certainty. Lumidigm and its strategic partners have met challenging authentication requirements in markets such as banking, healthcare, entertainment, and government services. The Lumidigm Advantage is also suitable for industrial, commercial, and transportation applications. Lumidigm is headquartered in Albuquerque, New Mexico. For more information, visit www.lumidigm.com or follow us on Twitter @Lumidigm.
HID and the HID logo are trademarks or registered trademarks of HID Global in the U.S. and/or other countries. All other trademarks, service marks, and product or service names are trademarks or registered trademarks of their respective owners.
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