Viisage (NASDAQ:VISG)
Historical Stock Chart
From Jun 2019 to Jun 2024
Viisage (Nasdaq: VISG), a leading provider of advanced
technology identity solutions, today announced that six state driver
service agencies have selected the Viisage AutoTest(TM) solutions to
improve the accuracy and security of applicant testing, identity
proofing, ID issuance and customer service in the driver's licensing
process. The added safety measures in these processes are expected to
help move the states toward compliance with the REAL ID Act, which
aims to create standards for security among the states driver's
licenses.
The contract awards follow the December 2005 acquisition of the
AutoTest Division of Openshaw Media Group by Viisage.
The six contracts total more than $2.3 million. The selection of
Viisage's solutions demonstrates the growing state level demand to
provide better service to U.S. citizens through greater convenience in
accessing state driver's licensing services, advanced identity vetting
in the proofing process, and increased security in the issuance
process.
"These wins validate the superior quality of the products we offer
and underscore our ability to provide value to our customers at all
levels," said Bernard Bailey, president and CEO of Viisage. "We
acquired AutoTest because we recognized the potential it offered the
market - the ability for states to use the solution to streamline
their driver's license application process, while enhancing security
and convenience for their customers and meeting federal compliance
mandates."
The contracts recently awarded to Viisage include key wins from
the following major U.S. states:
-- Alabama, Mississippi, and Nebraska driver services agencies
are utilizing the Viisage portable testing solutions to turn
sites outside the departments into secure testing facilities
for driver's license applicants. Applicants may take their
driver's knowledge test on portable computers that are
connected wirelessly to the state's central database,
transmitting data to and from the database in real-time. This
increased flexibility in the testing process ensures a high
level of security from fraud, abuse, and cheating, while
enabling the departments to decrease crowds and lines in the
departments' licensing offices.
-- Kentucky and Colorado are expanding their installations of the
Viisage secure knowledge testing solutions based on the use
and success of their existing AutoTest solutions.
-- Arkansas State Police is implementing the Viisage AutoTest
fixed base solution for their driver testing and driver's
licensing process.
"We are delighted to offer our citizens a more convenient and
efficient testing solution using AutoTest," said Major Roscoe Howell
of the Alabama Department of Public Safety, Driver License Division.
"Security is a top concern in the drivers licensing process, and this
solution enables us to provide both the highest levels of security in
testing and enhanced customer service through more local testing
sites."
AutoTest is a flexible, Web-based testing solution that delivers
and administers randomized identity and domain knowledge tests. The
knowledge testing software automatically randomizes questions,
ensuring that no two applicants receive the same test. Further, the
software automatically scores tests, saving time and money, while
reducing human error that may occur in manually scored tests. This
addition to the Viisage identity solution platform further enhances
the company's end-to-end solution offerings particularly in the areas
of identity proofing prior to issuing a secure credential. Applicant
testing and identity verification has become increasingly important
under the REAL ID Act as the driver's license has become a critical
identity document for many organizations.
About Viisage
Viisage (NASDAQ: VISG) delivers advanced technology identity
solutions for governments, law enforcement agencies and businesses
concerned with enhancing security, reducing identity theft, and
protecting personal privacy. Viisage solutions include secure
credentials such as passports and drivers' licenses, biometric
technologies for uniquely linking individuals to those credentials,
and credential authentication technologies to ensure the documents are
valid before individuals are allowed to cross borders, gain access to
finances, or be granted other privileges. With more than 3,000
installations worldwide, Viisage's identity solutions stand out as a
result of the company's industry-leading technology and unique
understanding of customer needs. Viisage's product suite includes
IdentityTOOLS(TM) SDK, Viisage PROOF(TM), FaceEXPLORER(R),
iA-thenticate(R), ID-GUARD(R), BorderGuard(R), PIER(TM), HIIDE(TM),
AutoTest(TM), FacePASS(TM) and FaceFINDER(R).
This news release contains forward-looking statements that involve
risks and uncertainties. Forward-looking statements in this document
and those made from time to time by Viisage through its senior
management are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect the Company's current views with
respect to the future events or financial performance discussed in
this release, based on management's beliefs and assumptions and
information currently available. When used, the words "believe",
"anticipate", "estimate", "project", "should", "expect", "plan",
"assume" and similar expressions that do not relate solely to
historical matters identify forward-looking statements.
Forward-looking statements concerning future plans or results are
necessarily only estimates and actual results could differ materially
from expectations. Certain factors that could cause or contribute to
such differences include, among other things, the size and timing of
contract awards, performance on contracts, performance of acquired
companies, availability and cost of key components, unanticipated
results from audits of the financial results of the Company and
acquired companies, changing interpretations of generally accepted
accounting principles, outcomes of government reviews, developments
with respect to litigation to which we are a party, potential
fluctuations in quarterly results, dependence on large contracts and a
limited number of customers, lengthy sales and implementation cycles,
market acceptance of new or enhanced products and services,
proprietary technology and changing competitive conditions, system
performance, management of growth, dependence on key personnel,
ability to obtain project financing, general economic and political
conditions and other factors affecting spending by customers, and the
unpredictable nature of working with government agencies. In addition,
such risks and uncertainties include, among others, the following
risks: that the merger with Identix will not close, that the
regulatory or shareholder 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 Viisage's and Identix' Securities and Exchange
Commission filings, including the Registration Statement on Form S-4
filed with the SEC in connection with the transaction, Viisage's
Annual Report on Form 10-K for the year ended December 31, 2005 and
its Quarterly Report on Form 10-Q for the quarter ended March 31, 2006
under the captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations," and
Identix' Annual Report on Form 10-K for the year ended June 30, 2005
and its Quarterly Reports on Form 10-Q for the quarters ended
September 30, 2005, December 31, 2005 and March 31, 2006 under the
captions "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations." Viisage expressly
disclaims any obligation to update any forward-looking statements.