L-1 Acquires Assets of Retica Systems
Acquisition will accelerate time-to-market in delivering biometric solutions
L-1 Identity Solutions announced that it has acquired substantially all of the tangible and intangible assets of Retica Systems including iris-on-the-move and iris-at-a-distance product inventory, algorithms and software, and related intellectual property rights and customer contracts.
L-1 expects the acquisition will accelerate its time-to-market in delivering highly-accurate and lower cost biometric solutions for large-scale civilian identity management programs that require cost-effective and rapid enrollment of significant numbers of people, or that need to identify people at a distance and on the move. These applications are most commonly found in large scale entitlement and credentialing programs, as well as in border crossing, law enforcement and other security related initiatives.
The products, technology and intellectual property rights acquired from Retica are highly complementary to L-1's existing iris recognition solutions portfolio that combines the power of L-1's leading Automated Biometric Identification System (ABIS) software platform with advanced Daugman algorithms and state-of-the-art hardware devices such as HIIDE and PIER.
Industry tests affirm the top-tier performance and accuracy of the L-1 Daugman iris algorithm that is incorporated into the ABIS platform and enables on-board matching of multiple modalities on the HIIDE and iris capture with PIER units. By acquiring Retica's Rapid Match, L-1 obtains a set of iris encoding and matching tools that may be used as an enhancement tool for L-1's already powerful Daugman algorithm to continue to expand and enhance its market lead.
Through the acquisition of Retica's Mobile Eyes, a low cost, portable camera that captures dual irises simultaneously, and Eagle Eyes, a device that definitively identifies individuals within randomly moving crowds at variable distances through the incorporation of surveillance video and dual-iris recognition, L-1 adds new capabilities to its already robust portfolio of multi-modal solutions.
"This asset acquisition gives us a greater range of solutions to address a wider set of opportunities more quickly within the growing market of high-volume and large-scale civilian identity management programs," Robert V.
LaPenta, Chairman, President and CEO of L-1 Identity Solutions. "Our existing solutions continue to dominate high-end identity management applications, such as those used by military and foreign military services in areas of conflict. With the Retica assets, we incorporate a solution that addresses broader market applications requiring lower cost solutions without compromising speed or accuracy. The Retica assets also open up new opportunities for L-1 outside of the government market, particularly in commercial identity management applications used by the gaming, hospitality, healthcare, and other industries."