(COMTEX) B: Burlington firm unveils new name, signaling shift into hi
B: Burlington firm unveils new name, signaling shift into high-tech security
solutions
BURLINGTON, ON, Mar 13, 2001 /PRNewswire via COMTEX/ -- The future of security
is a world- leading face recognition technology being marketed by a
Burlington-based company.
The former Heritage Concepts International (HCI) today unveiled a new name and
new look, complete with a redesigned Web site for the organization -- NEXUS
Group International Inc.
"Our name change reflects a shift in the strategic focus of our company to being
a world leader in biometrics and other advanced technologics," said Jerry Janik,
NEXUS chairman. "We bring together world-leading technology and expertise that
we expect will revolutionize security in a wide variety of areas including
banking, manufacturing, governments, hospitals, airports and so on."
Based on the HNeT ( Holographic/Quantum Neural Technology) platform, NEXUS
offers what we consider to be the most powerful face recognition system (FRS)
technology in the world.
John Sutherland, chief technology officer for AcSys Biometrics Corp. and
president of AND Corporation, the developer of HNeT, said the AcSys FRS
technology is able to recognize faces in the same manner as the human brain.
"The AcSys FRS technology provides fast, dependable identification and
verification using facial characteristics that it memorizes just like you and I
do," explained Mr. Sutherland. "This system provides a dependable, and cost-
effective solution for a wide variety of security challenges."
For instance, bank machines fitted with FRS technology will recognize the user
each time he or she uses an ATM, even if the user has changed his or her hair
style. "This could potentially eliminate the widespread fraudulent use of bank
cards that persists today," said Mr. Janik.
The technology is being licensed by AcSys Biometrics Corp., which is 50 percent
owned by NEXUS Group International. The first practical application will be
introduced to the marketplace this year through a joint original equipment
manufacturer (OEM) agreement with Chubb PLC.
David Lobb, NEXUS chief executive officer, noted that NEXUS has made substantial
inroads with the U.S. government through arrangements with major suppliers to
the General Services Administration. "Many U.S. government departments are very
excited about the potential of this technology."
NEXUS will receive a new designation (NXS) on the Toronto Stock Exchange, which
we expect to take place March 15. It will be trading as NXGIF on the NASDAQ
OTCBB effective March 13. Existing HCI share certificates will continue to
represent shares of NEXUS without a shareholder having to take any further
action.
SOURCE Heritage Concepts International Inc.
CONTACT: Darlene Marks, Director, Communications, NEXUS
Group International Inc., 399 Pearl Street, Burlington, ON L7
2M8,
(905) 634-4111 ext. 37, 1-877-842-7687, Fax: (905) 634-1101,
E-mail: dmarks@nxs.ca, Web site: www.nxs.ca
(HCI. NXGIF NXS.)
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(C) 2001 PR Newswire. All rights reserved.
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KEYWORD: Ontario
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