Viisage completes acquisition, wins federal contract
January 29, 2004
LITTLETON, Mass. - Viisage has finalized its purchase of ZN Vision Technologies AG and won a contract with the United States Department of State to provide facial-recognition technology to be used in the departmentÃ¢â‚¬â„¢s Diversity Visa Program.
Terms of the contract were not announced.
The ZN Vision acquisition, announced late last year, was finalized on Jan. 23, when Viisage shareholders approved the issuance of more than five million new shares of Viisage common stock to complete the transaction.
The 2005 Diversity Visa Program kicked off on Nov. 1, 2003, when the State Department began accepting electronic applications for diversity visas. Starting in February, the Consular Affairs Office will begin using the Viisage solution to check applicant photos for duplicates and possible fraud in applications. Applicants who are found to have submitted more than one application, a violation of federal law, will be rejected.
"The application of ViisageÃ¢â‚¬â„¢s face recognition technology to the DOSÃ¢â‚¬â„¢s identity solution will play an integral role in fighting fraud and strengthening border control processes," said Bernard Bailey, president and chief executive officer of Viisage.