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Identix Incorporated (Nasdaq:IDNX):
-- One-to-Many Algorithm Testing Consistently Places Identix in
Top Three Companies for Accuracy Against Real-World,
Large-Scale AFIS Databases
-- Identix Expects to Launch Full Suite of Criminal and Civil
AFIS Offerings by the Third Quarter of Calendar 2006
Identix Incorporated (Nasdaq:IDNX) announced today that the latest
National Institute of Standards & Technology (NIST) testing report has
identified Identix' newest fingerprint matching technology offering,
BioEngine(R) 6, as a top performing, AFIS-Grade algorithm. The
recently released NIST fingerprint algorithm testing, the results of
which were publicly released March 10, 2006, included the latest
one-to-many fingerprint matching algorithm from Identix. The tests
were conducted on large scale, existing, real-world databases,
including U.S. VISIT airport captures, Mexico/U.S. land crossings, and
worldwide U.S. Visa applications. Identix' technology was shown to be
highly competitive, with performance above or in-line, with the
current leading AFIS vendors.
In its latest report, NIST tested a total of 21 algorithms from 10
vendors. Several AFIS vendors participated through multiple
submissions that represented different parameter adjustments of the
same algorithm from that vendor. Identix participated with a single
algorithm, BioEngine 6. Identix average accuracy results across all
tests came in at 99.45% in the two finger tests and 97.36% in the
single finger tests, at a False Acceptance Rate (FAR) of 1/10,000.
Only two other AFIS vendors averaged higher, with a difference of only
0.1-0.2% for the two finger matching accuracy and 0.7-0.8% for the
single finger accuracy. The complete NIST results released March 10,
2006 may be found at http://fingerprint.nist.gov/SDK/.
"Today's announced NIST results mark a major milestone for Identix
in validating and establishing the Company's BioEngine 6 algorithm as
a top performing AFIS-Grade fingerprint matching technology for
large-scale identification solutions," said Identix President & CEO
Dr. Joseph J. Atick. "These results are the culmination of
considerable R&D and investment efforts that set the stage for the
next round of market penetration by Identix. We believe the fact that
we were able to outperform algorithms from every other company --
while consistently placing in the top three companies in terms of
performance -- without having the benefit of tuning our algorithm for
these tests, demonstrates that Identix has a powerful technology that
will be very competitive in the AFIS marketplace."
Atick continued, "Over the past years, Identix has been working
diligently on incorporating this one-to-many fingerprint matching
technology into our ABIS platform and on developing all of the
required applications and work flow engines that will enable us to
deliver end-to-end criminal and civil AFIS capabilities."
These AFIS capabilities are expected to be commercially launched
and available to the broad market during the third calendar quarter of
2006.
Robert V. LaPenta, Chairman, CEO and founder of L-1 Investment
Partners and Chairman of the Board of Viisage Technology, Inc.,
stated, "This is a significant accomplishment for Identix, which is
expected to become a valuable asset of the combined Company that will
be created by the proposed merger of Identix and Viisage. It affords
Identix the ability to continue development of a full suite of
criminal and civil AFIS solutions that will place the combined Company
in an ideal position to effectively compete for large-scale
identification programs such as national ID, voter registration,
criminal AFIS, travel and transportation documents, and many others
throughout the world." At the closing of the merger between Viisage
and Identix, Mr. LaPenta, will become Chairman and Chief Executive
Officer of the yet to be named combined Company.
About Identix Incorporated
Identix Incorporated (Nasdaq:IDNX) is the world's leading
multi-biometric technology company. Identix provides fingerprint,
facial and skin biometric technologies, as well as systems, and
critical system components that empower the identification of
individuals in large-scale ID and ID management programs. The
Company's offerings include live scan systems and services for
biometric data capture, mobile systems for on-the-spot ID, and backend
standards-based modules and software components for biometric matching
and data mining. Identix products are used to conduct background
checks, speed travel and commerce via secure identification documents,
prevent identity fraud in large-scale government and civil ID
programs, and control access to secure areas and networks. With a
global network of partners, such as leading system integrators,
defense prime contractors and OEMs, Identix serves a broad range of
markets including government, law enforcement, gaming, finance,
travel, transportation, corporate enterprise and healthcare.
More information on Identix can be accessed via the Company web
site at http://www.identix.com.
Forward-Looking Statements
The statements contained in this release, which are not historical
facts, are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These statements are based on the Company's
current expectations and beliefs and are subject to a number of risks
and assumptions that could cause actual results to differ materially
from those described in the forward-looking statements. All statements
other than statements of historical fact are statements that could be
deemed forward-looking statements. These statements are subject to
uncertainties that could cause actual results to differ materially
from those set forth in or implied by forward-looking statements.
Risks and uncertainties include, without limitation, those related to:
the ability to complete of Identix to complete the successful and
timely launch of its complete suite of AFIS technology solutions and
services on a timely basis; the readiness of customer to fund and
adopt Identix' AFIS offerings; the availability of funding from
government and other customers; the readiness of customers to accept
delivery of products on a timely basis; the ability of the Company to
achieve targeted levels of hardware, software and related component
mix; and increasing levels of competition. In addition, such risks and
uncertainties include, among others, the following risks: that the
merger with Viisage Technology will not close, that the regulatory or
shareholders approval will not be obtained, that the closing will be
delayed, that customers and partners will not react favorably to the
merger, integration risks, the risk that the combined companies may be
unable to achieve cost-cutting synergies, and other risks described in
Identix' and Viisage's Securities and Exchange Commission filings,
including the Registration Statement on Form S-4 filed with the SEC in
connection with the transaction, Identix' Annual Report on Form 10-K
for the year ended June 30, 2005 and its Quarterly Report on Form 10-Q
for the quarters ended September 30, 2005 and December 31, 2005, under
the captions "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations," and Viisage's
Annual Report on Form 10-K for the year ended December 31, 2004 and
its Quarterly Reports on Form 10-Q for the quarters ended April 3,
2005, July 3, 2005 and October 2, 2005, and any updates that have been
filed to the date hereof, under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations." Neither Identix nor Viisage undertake any
obligation to update these forward-looking statements to reflect
events or circumstances after the date of this press release.
Additional Information and Where to Find It
Investors and security holders of both Identix and Viisage are
advised to read the joint proxy statement/prospectus regarding the
business combination transaction referred to in the material below,
when it becomes available, because it will contain important
information. Identix and Viisage expect to mail a joint proxy
statement/prospectus about the transaction to their respective
stockholders. This joint proxy statement/prospectus will be filed with
the Securities and Exchange Commission by both companies. Investors
and security holders may obtain a free copy of the joint proxy
statement/prospectus and other documents filed by the companies at the
Securities and Exchange Commission's web site at http://www.sec.gov.
The joint proxy statement/prospectus and such other documents may also
be obtained from Identix or Viisage by directing such requests to the
companies.
Participants In Solicitation
Viisage, Identix and their respective directors and executive
officers and other members of management and employees may be deemed
to be participants in the solicitation of proxies in respect of the
merger. Information concerning Viisage's participants is set forth in
the proxy statement dated, November 21, 2005, for Viisage's special
meeting of shareholders held on December 16, 2005 as filed with the
SEC on Schedule 14A. Information concerning Identix' participants is
set forth in the proxy statement, dated October 6, 2005, for Identix'
2005 annual meeting of shareholders as filed with the SEC on Schedule
14A. Additional information regarding the interests of participants of
Viisage and Identix in the solicitation of proxies in respect of the
merger will be included in the registration statement and joint proxy
statement/prospectus to be filed with the SEC.