13.03.2006 11:30:00
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Identix Demonstrates AFIS-Grade, Top Performing Fingerprint Matching Technology in National Institute of Standards & Technology (NIST) Testing
-- 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 latestNational Institute of Standards & Technology (NIST) testing report hasidentified Identix' newest fingerprint matching technology offering,BioEngine(R) 6, as a top performing, AFIS-Grade algorithm. Therecently released NIST fingerprint algorithm testing, the results ofwhich were publicly released March 10, 2006, included the latestone-to-many fingerprint matching algorithm from Identix. The testswere conducted on large scale, existing, real-world databases,including U.S. VISIT airport captures, Mexico/U.S. land crossings, andworldwide U.S. Visa applications. Identix' technology was shown to behighly competitive, with performance above or in-line, with thecurrent leading AFIS vendors.
In its latest report, NIST tested a total of 21 algorithms from 10vendors. Several AFIS vendors participated through multiplesubmissions that represented different parameter adjustments of thesame algorithm from that vendor. Identix participated with a singlealgorithm, BioEngine 6. Identix average accuracy results across alltests came in at 99.45% in the two finger tests and 97.36% in thesingle finger tests, at a False Acceptance Rate (FAR) of 1/10,000.Only two other AFIS vendors averaged higher, with a difference of only0.1-0.2% for the two finger matching accuracy and 0.7-0.8% for thesingle 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 Identixin validating and establishing the Company's BioEngine 6 algorithm asa top performing AFIS-Grade fingerprint matching technology forlarge-scale identification solutions," said Identix President & CEODr. Joseph J. Atick. "These results are the culmination ofconsiderable R&D and investment efforts that set the stage for thenext round of market penetration by Identix. We believe the fact thatwe were able to outperform algorithms from every other company --while consistently placing in the top three companies in terms ofperformance -- without having the benefit of tuning our algorithm forthese tests, demonstrates that Identix has a powerful technology thatwill be very competitive in the AFIS marketplace."
Atick continued, "Over the past years, Identix has been workingdiligently on incorporating this one-to-many fingerprint matchingtechnology into our ABIS platform and on developing all of therequired applications and work flow engines that will enable us todeliver end-to-end criminal and civil AFIS capabilities."
These AFIS capabilities are expected to be commercially launchedand available to the broad market during the third calendar quarter of2006.
Robert V. LaPenta, Chairman, CEO and founder of L-1 InvestmentPartners and Chairman of the Board of Viisage Technology, Inc.,stated, "This is a significant accomplishment for Identix, which isexpected to become a valuable asset of the combined Company that willbe created by the proposed merger of Identix and Viisage. It affordsIdentix the ability to continue development of a full suite ofcriminal and civil AFIS solutions that will place the combined Companyin an ideal position to effectively compete for large-scaleidentification programs such as national ID, voter registration,criminal AFIS, travel and transportation documents, and many othersthroughout the world." At the closing of the merger between Viisageand Identix, Mr. LaPenta, will become Chairman and Chief ExecutiveOfficer of the yet to be named combined Company.
About Identix Incorporated
Identix Incorporated (Nasdaq:IDNX) is the world's leadingmulti-biometric technology company. Identix provides fingerprint,facial and skin biometric technologies, as well as systems, andcritical system components that empower the identification ofindividuals in large-scale ID and ID management programs. TheCompany's offerings include live scan systems and services forbiometric data capture, mobile systems for on-the-spot ID, and backendstandards-based modules and software components for biometric matchingand data mining. Identix products are used to conduct backgroundchecks, speed travel and commerce via secure identification documents,prevent identity fraud in large-scale government and civil IDprograms, and control access to secure areas and networks. With aglobal network of partners, such as leading system integrators,defense prime contractors and OEMs, Identix serves a broad range ofmarkets including government, law enforcement, gaming, finance,travel, transportation, corporate enterprise and healthcare.
More information on Identix can be accessed via the Company website at http://www.identix.com.
Forward-Looking Statements
The statements contained in this release, which are not historicalfacts, are forward-looking statements within the meaning of Section27A of the Securities Act of 1933 and Section 21E of the SecuritiesExchange Act of 1934. These statements are based on the Company'scurrent expectations and beliefs and are subject to a number of risksand assumptions that could cause actual results to differ materiallyfrom those described in the forward-looking statements. All statementsother than statements of historical fact are statements that could bedeemed forward-looking statements. These statements are subject touncertainties that could cause actual results to differ materiallyfrom 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 andtimely launch of its complete suite of AFIS technology solutions andservices on a timely basis; the readiness of customer to fund andadopt Identix' AFIS offerings; the availability of funding fromgovernment and other customers; the readiness of customers to acceptdelivery of products on a timely basis; the ability of the Company toachieve targeted levels of hardware, software and related componentmix; and increasing levels of competition. In addition, such risks anduncertainties include, among others, the following risks: that themerger with Viisage Technology will not close, that the regulatory orshareholders approval will not be obtained, that the closing will bedelayed, that customers and partners will not react favorably to themerger, integration risks, the risk that the combined companies may beunable to achieve cost-cutting synergies, and other risks described inIdentix' and Viisage's Securities and Exchange Commission filings,including the Registration Statement on Form S-4 filed with the SEC inconnection with the transaction, Identix' Annual Report on Form 10-Kfor the year ended June 30, 2005 and its Quarterly Report on Form 10-Qfor the quarters ended September 30, 2005 and December 31, 2005, underthe captions "Risk Factors" and "Management's Discussion and Analysisof Financial Condition and Results of Operations," and Viisage'sAnnual Report on Form 10-K for the year ended December 31, 2004 andits 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 beenfiled to the date hereof, under the captions "Risk Factors" and"Management's Discussion and Analysis of Financial Condition andResults of Operations." Neither Identix nor Viisage undertake anyobligation to update these forward-looking statements to reflectevents 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 areadvised to read the joint proxy statement/prospectus regarding thebusiness combination transaction referred to in the material below,when it becomes available, because it will contain importantinformation. Identix and Viisage expect to mail a joint proxystatement/prospectus about the transaction to their respectivestockholders. This joint proxy statement/prospectus will be filed withthe Securities and Exchange Commission by both companies. Investorsand security holders may obtain a free copy of the joint proxystatement/prospectus and other documents filed by the companies at theSecurities and Exchange Commission's web site at http://www.sec.gov.The joint proxy statement/prospectus and such other documents may alsobe obtained from Identix or Viisage by directing such requests to thecompanies.
Participants In Solicitation
Viisage, Identix and their respective directors and executiveofficers and other members of management and employees may be deemedto be participants in the solicitation of proxies in respect of themerger. Information concerning Viisage's participants is set forth inthe proxy statement dated, November 21, 2005, for Viisage's specialmeeting of shareholders held on December 16, 2005 as filed with theSEC on Schedule 14A. Information concerning Identix' participants isset forth in the proxy statement, dated October 6, 2005, for Identix'2005 annual meeting of shareholders as filed with the SEC on Schedule14A. Additional information regarding the interests of participants ofViisage and Identix in the solicitation of proxies in respect of themerger will be included in the registration statement and joint proxystatement/prospectus to be filed with the SEC.
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