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Xerox Expands Lasertechnics Access to Security Software; Banking and Medical Cards Key Applications for Biometric Security
CARROLLTON, Texas -- Lasertechnics, Inc.'s (Nasdaq: LASX) Sandia Imaging unit said new agreements with Xerox Corp. (NYSE: XRX) will give it a freer hand in commercializing DataGlyphs(TM), a high security data storage technology.
Xerox originally licensed the fraud-resistant technology to Sandia in 1995 for card-mounted applications. It is ideally suited for biometric security systems, Sandia said.
Under the agreements announced today, Sandia acquired access to the source code so it can customize DataGlyphs software for a wide variety of applications including passports, visas, banking, health care, ID cards and drivers' licenses.
Sandia also became sole worldwide licensee for marketing the read-only technology for any other security and identification media.
The new agreements make the period of exclusivity "indefinite" so long as Sandia maintains undisclosed minimum license payments.
Unlike other card-mounted storage media, DataGlyphs does not require dedicated surface space like magnetic stripes, chips, 2-D bar codes, or optical media. Current data density for DataGlyphs on a wallet-size card is 4000 bytes. The cost is roughly the same as for magnetic stripes, yet the storage density is roughly 40 times greater and the security is much higher.
"The economics of DataGlyphs and the ease of adapting it to custom applications make it an ideal candidate to become an industry standard for turning wallet-size cards into personal portable databases -- and significantly enhance the security of card-based transactions," said Jean-
Pierre Arnaudo, chief executive officer of Sandia.
"Our relationship with Xerox is very productive, and they are very supportive of Sandia being successful with DataGlyphs in our key application areas," noted Stephen C. Nesbit, Sandia's chief of marketing for DataGlyphs.
"For a large and growing segment of the market, the technology offers very compelling advantages -- cost, capacity, visually pleasing appearance, error correction capabilities and high compatibility with biometric security systems -- that simply can't be matched by anything else now available."
Sandia officials said DataGlyphs is being beta-tested at six customer sites: three in South Africa, and one each in the U.S., Europe and Australia. The first of these tests is expected to be completed by month's end.
Lasertechnics, Inc., founded in 1981, consists of two operating subsidiaries: (1) Sandia Imaging Systems Corporation of Carrollton, TX (majority-owned) which provides imaging software and hardware systems for encoding wallet-size cards with images and other digitized information, turning the cards into portable personal databases; and (2) Lasertechnics Marking Corporation of Albuquerque, NM (wholly owned) which provides laser marking systems and related technologies for a diverse range of industrial and commercial markets.
Except for the historical information contained herein, this news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurances that such expectations will prove to be correct.
Certain important factors that could cause actual results to differ materially from the company's expectations ("Cautionary Statements") are disclosed in the company's third quarter Form 10Q for the third quarter ended September 30, 1996 and qualify the forward-looking statements included in this news release.
/CONTACT: Richard C.E. Morgan, Chairman & CEO of Lasertechnics,
972-407-6080; or Thomas Redington of Redington, Inc., 203-222-7399, or
212-926-1733/
1997, PR Newswire"
"Provided by Dow Jones & Company, Inc." |
