Iris on the Move® Product to Combine Accuracy of L-1’s Daugman Iris Recognition Algorithm with Convenience and Speed of a Walk-Through Identification Solution
TAMPA, FL — BIOMETRIC CONSORTIUM CONFERENCE 2008 — September 23, 2008 — L-1 Identity Solutions, Inc. (NYSE: ID), a leading provider of identity solutions and services, and Sarnoff Corporation, a world leader in iris imaging technology, today announced plans to collaborate on an end-to-end Iris on the Move (IOM) identity recognition product.
L-1 and Sarnoff have signed a non-binding Memorandum of Understanding (MOU) establishing indicative terms for a prospective definitive agreement for development and distribution of an L-1/Sarnoff IOM product. The product is expected to leverage Sarnoff’s proven iris acquisition technology to capture the iris image of a subject in motion, as well as the superior functionality of L-1’s proprietary Daugman ’08 iris recognition and G-8 facial recognition algorithms for fast and reliable identification. Once finalized and released, the walk-through IOM product would be supplied by Sarnoff for exclusive sale by L-1.
“We believe this collaboration between L-1 and Sarnoff has the potential to produce a breakthrough product for the industry, making possible the deployment of highly accurate iris-based recognition systems for verifying identities in environments with high traffic volume, without compromising the speed and convenience citizens demand as they make their way through airports, across borders and into facilities,” said Robert V. LaPenta, Chairman, President and CEO of L-1 Identity Solutions.
The parties anticipate that Sarnoff’s IOM technology coupled with L-1’s proprietary Daugman ’08 iris recognition and G-8 facial recognition algorithms will deliver high reliability and extremely accurate iris match rates attributable to the distinctive characteristics of an individual’s iris. The final IOM product is expected to have fewer constraints on users than any other iris recognition system, and the ability to identify up to 30 moving subjects per minute, providing a practical and valuable solution to a critical need for identity management.
“Take a look at any security line and it is obvious there is a critical need for faster identity management solutions,” said Dr. Don Newsome, President and CEO of Sarnoff Corporation. “This exciting collaboration between L-1 and Sarnoff, while preliminary, is based on over a decade of demonstrated expertise in iris recognition, and we believe it will create the most advanced identification product available on the market to quickly and accurately secure airports, international borders, military installations and critical infrastructure facilities.”
In addition to the prospective IOM product, L-1 and Sarnoff’s MOU contemplates future collaboration in seeking both government and commercial funding for further development opportunities. Sarnoff will continue to offer R&D-based IOM innovations to the collaboration in an effort to ensure persistent technology leadership over time.
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. (NYSE: ID), together with its portfolio of companies, offers a comprehensive set of products and solutions for protecting and securing personal identities and assets. Leveraging the industry's most advanced multi-modal biometric platform for finger, face and iris recognition, our solutions provide a circle of trust around all aspects of an identity and the credentials assigned to it -- including proofing, enrollment, issuance and usage. With the trust and confidence in individual identities provided by L-1 Identity Solutions, government entities, law enforcement and border management agencies, and commercial enterprises can better guard the public against global terrorism, crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions is headquartered in Stamford, CT. For more information, visit www.L1ID.com.
About Sarnoff Corporation
Sarnoff Corporation (www.sarnoff.com) delivers vision, video and semiconductor technology innovations that empower government and commercial clients to see/sense, understand and control complex environments. Founded in 1942 as RCA Laboratories, Sarnoff makes continuous breakthroughs in real-time video processing for defense, security and surveillance; ICs, lasers, imaging and sensing devices; high-performance networking and wireless communications. Sarnoff is a subsidiary of SRI International.
Iris on the Move is a registered trademark of Sarnoff Corporation.
Forward Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release and those made from time to time by L-1 Identity Solutions through its senior management are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current views based on management's beliefs and assumptions and information currently available. Forward-looking statements concerning future plans or results are necessarily only estimates, and actual results could differ materially from expectations. Certain factors that could cause or contribute to such differences include, the ability of L-1 and Sarnoff to successfully negotiate and execute a definitive agreement on a timely basis, the ability of the parties to successfully develop and market the IOM product, the availability of government and commercial funding for contemplated development activities, increasing competition in the IOM and iris capture marketplace, the unpredictable nature of working with federal, state and local government customers, and general economic and political conditions.. Additional risks and uncertainties are described in the Securities and Exchange Commission filings of L-1 Identity Solutions, including its Form 10-K for the year ended December 31, 2007 and its Form 10-Q for each of the quarterly periods ended March 31, 2008 and June 30, 2008. L-1 Identity Solutions expressly disclaims any intention or obligation to update any forward-looking statements.
