VOXX International Corporation has completed its acquisition of a controlling interest in iris biometrics developer EyeLock. Through a new subsidiary, EyeLock LLC, VOXX now has a 54 percent equity interest in the company.
EyeLock LLC owns virtually all of EyeLock’s assets including its IP portfolio, which of course includes the foundations for its highly accurate iris scanning access control system as well as its iris-scanning laptop. As far as the technology goes, it’s a good buy, and the management at VOXX are excited about the opportunities now in front of them.
In a press release, VOXX CEO Pat Lavelle said the acquisition “holds great potential” given that “biometrics increasingly has become a desired authentication mechanism for the Internet of Things, and for increased access management and security measures.” He added that the acquisition represents an investment “in the fastest and most secure iris-authentication technology in the market, and a company that has significant potential to capture an increasing share of a market that is expected to increase to over $20 billion within the next five years.”
As Lavelle suggested, there is indeed great potential for growth in the Internet of Things and other access control and security applications. Moreover, iris scanning offers the possibility of accurate, touchless and perhaps even passive user authentication, which could be increasingly important as biometric authentication becomes more widespread.
September 3, 2015 – by Alex Perala