“Adding Crossmatch to our company will extend HID’s market leadership in the trusted identity space and allow us to fulfill the promise of biometrics in critical identity applications.” –Stefan Widing, President and CEO, HID Global
In announcing the acquisition, the companies did not disclose its terms, though ASSA ABLOY asserted that HID Global’s sales for this year are expected to reach $125 million, adding that the acquisition is expected to improve earnings per share immediately.
Commenting on the acquisition, HID Global CEO Stefan Widing said it “strengthens HID Global’s ability to offer innovative biometric identity solutions to hundreds of millions of users worldwide,” adding that it will also “extend HID’s market leadership in the trusted identity space and allow us to fulfill the promise of biometrics in critical identity applications.” HID Global’s statement emphasized the defense, civil government, and commercial applications of Crossmatch’s fingerprint recognition technology.
The acquisition’s announcement comes immediately after the news that Crossmatch had been selected to move onto the second phase of IARPA’s Thor program, a research and development initiative focused on Presentation Attack Detection technology for biometrics.
September 24, 2018 – by Alex Perala