SOUTH PASADENA, Calif.-Cogent Systems (Nasdaq: COGT – News) today announced its biometric fingerprint technology is integrated by 3M Corporation (NYSE: MMM – News) for the first operational implementation of the Seafarers’ Identity Document (SID) program worldwide by a ratified country of the International Labour Organization (ILO) agreement, taking place in Nigeria. In November, Cogent’s SID products (BioSDK3.10, COGENT BSP + CSD301 scanner) were qualified for the SID program upon meeting the ILO requirements under the SID Convention (Revised), 2003 (No. 185).
Cogent’s SID products include its fingerprint algorithmic technologies and Software Development Kit (SDK) bundled with Cogent’s optical fingerprint scanners. The SID products support image capture, quality control, SID fingerprint enrollment, SID template generation, SID fingerprint identification and verification. 3M Corporation integrated Cogent’s SID products and technologies for its implementation of the SID program in Nigeria. Earlier this year, the Joint Maritime Labour Industrial Council selected 3M to deploy the 3M(TM) Identity Document Issuance System for the Nigerian SID. The new SID employs biometric identity verification to help officials accurately verify the cardholder’s identity, consequently allowing seafarers easier entry to foreign ports.
The 3M System converts document holders’ fingerprints into a biometric template then encodes the prints into an internationally standardized, two-dimensional bar code printed on the SID card. The biometric components of the system help to ensure interoperability, meaning that the biometrics written by one country can be read by another. Authorities can use the 3M(TM) Identity Document Issuance System to compare “live” fingerprints of the SID holder with the biometrics stored on the document to confirm identity and check document authenticity. The 3M(TM) Identity Document Issuance System also helps ensure document security by issuing identification documents only to those who are entitled and authorized to receive them.
“Obtaining ILO qualification for our SID products was an important accomplishment for us, and we are proud to partner with 3M on the implementation of the SID program in Nigeria,” commented Ming Hsieh, President and Chief Executive Officer of Cogent. “SID programs are expected to be rolled out at an increasing rate by member nations in the coming months. With this in mind, we have developed innovative products conforming to ILO standards to take advantage of this growing opportunity.”
The International Labour Organization has revised its 1958 Convention on seafarers’ identity documents (also known as “seafarers’ IDs” or “SIDs”). The new Convention, the Seafarers’ Identity Documents Convention (Revised), 2003 (No. 185), which was adopted by the International Labour Conference in June 2003, introduced modern security features into the seafarers’ ID. One of those security features is a fingerprint biometric template, which shall be “conforming to a standard”. ILO requires all member nations (188 in all) to use SID products that have been tested by ILO designated lab for performance and interoperability and approved by ILO as qualified products.
About Cogent Systems
Cogent is a leading provider of Automated Fingerprint Identification Systems, or AFIS, and other fingerprint biometric solutions to governments, law enforcement agencies and other organizations worldwide. Cogent’s AFIS solutions enable customers to capture fingerprint images electronically, encode fingerprints into searchable files and accurately compare a set of fingerprints to a database containing potentially millions of fingerprints in seconds. For more information, please visit www.cogentsystems.com
This press release contains, in addition to historical information, forward-looking statements. Such statements are based on management’s current estimates and expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Cogent is providing this information as of the date of this press release, and expressly disclaims any duty to update information contained in this press release.
Forward-looking statements in this press release include, without limitation, express and implied statements regarding potential revenues from the SID products. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those expressed or implied here. Readers are referred to Cogent’s Report on Form 10-Q for the quarter ended September 30, 2006 filed by Cogent with the Securities and Exchange Commission which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including but not limited to: changes in government policies; deriving a significant portion of revenues from a limited number of customers; deriving a significant portion of revenues from the sale of solutions pursuant to government contracts; failure of the biometrics market to experience significant growth; failure of Cogent’s products to achieve broad acceptance; failure to successfully compete;
failure to comply with government regulations; negative publicity and/or loss of clients due to security breaches resulting in the disclosure of confidential information; loss of export licenses or changes in export laws; failure to manage projects; rapid technology change in the biometrics market; loss of a key member of management team; termination of backlog orders; loss of limited source suppliers; negative audits by government agencies; failure to protect intellectual property; and exposure to intellectual property and product liability claims. The information contained in this press release is a statement of Cogent’s present intention, belief or expectation and is based upon, among other things, existing industry conditions, market conditions, the economy in general and Cogent’s assumptions. Cogent may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in its assumptions or otherwise. Cogent undertakes no obligation to review or
confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The Blueshirt Group, Investor Relations
Chris Danne or Rakesh Mehta, 415-217-7722
Source: Cogent Systems