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Bioscrypt to Acquire 3D Facial Recognition Technology Company
SDM E-Newsletter: Bioscrypt Inc., Toronto, Ontario, announced plans to acquire A4Vision, Sunnyvale, Calif. Bioscrypt, a manufacturer of biometric technologies, will expand its offerings with A4Vision’s 3-D facial recognition technology. The acquisition will lend itself to plenty of synergistic opportunities, including plans to offer access control readers that incorporate both finger and facial biometrics for use in physical access control, said Matthew Bogart, Bioscrypt’s director of corporate development. “We have been in the business of biometric and identity verification since the mid-90s,” Bogart said. "[This acquisition] is really extending our vision of access control and is a great extension of our product line." The acquisition, which had been in the works for several months according to Bogart, is an all-stock transaction and is expected to close in March. A4Vision’s CEO Grant Evans will stay on as a member of Bioscrypt’s board of directors.
Bogart said that the acquisition lends itself to new
and emerging markets, allowing Bioscrypt to be a one-stop-shop for biometric
access control needs. “Typically, a customer will decide if they will go with
fingerprint or another type of biometric," Bogart explained. "This provides us
with the opportunity to go to that customer and provide them with a different
technology. The ability to be a single-source provider for biometric technology
is a great benefit.” Bioscrypt’s largest current markets are financial services,
transportation including airports and seaports, and government facilities. For
more information, visit www.bioscrypt.com or www.a4vision.com.
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