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Geneve, Switzerland, 2006/10/11 - Winterman Asset Management SA is pleased to announce its appointment as Corporate Advisor to 123ID, Inc., a US based biometrics company.
123ID have now issued an offer memorandum to raise $3m in an initial funding to continue to expand its niche technology into the European and US markets.
The use of a person’s physiological or behavioral features to authenticate identity is called “BIOMETRICS”. In today’s world of high tech communication and internet connectivity, it becomes increasingly important to rely upon human qualities to verify identity and create a secure relationship among individuals and businesses.
123ID, Inc. (123id.us) is a software development company that specializes in biometric solutions for identification purposes with its primary historical emphasis on the utilization of finger print technology. Biometrics is the science and technology of establishing the identity of an individual by measuring the person’s physiological or behavioral features. Verifying a person’s identity with biometrics, such as a finger print, signature, iris or facial read, is becoming a requirement and a standard for many businesses and government agencies.
Founded five years ago, the Company has initially invested millions of dollars and all its resources into research and development. From technological design and implementation to patent applications, this period is considered to be a preparation phase in anticipation of the official sales and marketing stage of the technology and the Company itself. Incredibly, even though not intended, the relationship process with future clients began early in the R&D phase as the technology and the Company was slowly being introduced into the marketplace.
Today although overall a new entity in the marketplace, 123ID has a long list of references and impeccable reputation developed from historical projects, along with established relationships. Combined with its recent partnerships with corporations such as Novel, Fujitsu, SigTec, Triad and many more, the Company has a head start in its introduction in the marketplace.
Commenting upon the project, Winterman Director Sara Buzze said “We are very excited to have taken on board the 123ID project. In the current security environment in which we live a company like 123ID is making important steps forward in the innovation of security software. Their technology is also inter-operable with virtually all fingerprint readers on the market, which makes 123ID an obvious choice for hardware vendors selling to end users.”
123ID Inc has made in-roads into international governmental clients and is currently evaluating several projects on behalf of European security agencies. Ms Buzze said “Companies who wish to deal with governments have to have robust and secure software applications as well as having employees and management who are beyond reproach, the team at 123ID have created such a company and we are very happy to be working with such a professional business”.
The security industry is seeing added interest from investors with news of Geneva based private bank Pictet launching a fund in November that will be concentrating on this sector. The general consensus being that there could be a period of consolidation while companies and investors position themselves for what is estimated to be a huge growth industry.
Ms Buzze said “We can understand why a firm like Pictet are getting involved in the sector, there are many smaller companies who are developing technologies in this area. The investor that chooses correctly could make a substantial profit on their investment over the coming years. We do believe there will be consolidation and we are working with 123ID on several acquisition targets that could be merged with the company to make it a major player in the sector. We believe firmly that the way in which 123ID have positioned their technology, i.e as an inter-operable software solution, it can become the software of choice while others are fighting over the development of their hardware. The way we look at it is that you now see laptops with ‘Intel Inside’ written on them, when it comes to security devises we believe that you will be seeing ‘123ID inside’ in the years to come.
The Canadian and Swiss based Winterman Group (wintermangroup.com), is a private equity group which primarily invests in companies which they then spin off into listed entities, generally through the reverse merger technique. Winterman Asset Management SA is a Swiss based asset manager and corporate finance company primarily dealing with high net worth individuals and institutions. The group are also the owners of the recently launched Winterman Global Capital Markets Fund, a professional BVI based fund that has three classes of shares, one of those being private equity based.