FST Biometrics to Shut Down: Report

Israel-based FST Biometrics is shutting down its operations, according to a new report in Haaretz.FST Biometrics to Shut Down: Report

The organization is known for its In Motion Identification, or “IMID”, solution, which is designed to use face scanning and gait recognition to identify individuals as they approach doors and other checkpoints, allowing authorized personnel to seamlessly gain access. The system also has an optional voice recognition component.

IMID has seen a number of deployments across a wide range of settings, and has won FST Biometrics industry acclaim. Nevertheless, Haaretz’s report suggests the company’s board of directors voted on June 14th to wind down operations due to a lack of sufficient market traction. Speaking to the paper, an anonymous insider said the company’s management team is now focused on “making an effort to meet its obligations to customers and minimize the harm to its employees.”

Noting that FST Biometrics “came with some of the best credentials a security technology company could have,” Haaretz’s report notes that the company was founded by Aharon Zeevi Farkash, a former Major General with a highly respected Israeli intelligence unit; and that former prime minister Ehud Barak sat on its board of directors.

At the time of writing, FST Biometrics has not responded to requests for comment, and its website offers no indication that the company will cease operations.

Source: Haaretz