VeriSign Makes Key Strategic Investment in Identix to Further Heightened
Authentication and Transaction Management Security Solutions
SUNNYVALE, Calif. and MOUNTAIN VIEW, Calif., Jan. 3 /PRNewswire/ --
Identix Incorporated (Amex: IDX), the worldwide leader in providing biometric
authentication, security, identification solutions, and VeriSign, Inc.
(Nasdaq: VRSN), the leading provider of Internet trust services, today
announced a strategic agreement to integrate VeriSign's digital certificate
services into Identix's itrust(TM) wired and wireless trusted transaction
management security offering. The combination of VeriSign's digital
certificates with Identix's itrust(TM) authentication and secure transaction
management services is intended to provide heightened security, trust and
convenience to consumers and businesses alike when conducting e- and
m-commerce transactions. VeriSign has also invested $2 million through the
purchase of Identix common stock in support of the design, development,
marketing and roll-out of itrust(TM) services to provide a complete trusted
transaction management offering. itrust(TM), a division of Identix, will
offer a suite of services, including digital certificates, to provide
authenticated, secure management solutions for trusted wired and wireless
e- and m-commerce transactions. VeriSign joins Motorola (NYSE: MOT) as a
partner in itrust(TM).
"As the Internet continues to grow, added layers of security become even
more necessary. We are pleased to be working with leaders in the biometrics
field such as Identix to help fuel Internet usage across all industries,
especially those which require higher levels of security," said Anil Pereira,
group general manager and senior vice president of VeriSign's Enterprise
Services Division. "The combination of our digital certificate services with
Identix's itrust(TM) suite of authentication, transactionmanagement and
content protection solutions provides the safe environment to conduct trusted
e- and m-commerce transactions over both wired and wireless mediums."
According to Identix President & COO James P. Scullion, the combined
offering will offer a wired and wireless security solution of choice for
e- and m-commerce transactions by providing a higher level of security and
trust in a transaction through the use of heightened authentication
requirements, including digital certificates and biometrics. itrust(TM)
intends to provide unparalleled assurance and confidence that a specific
individual authorized a transaction, delivering the market requirement for
non-repudiation -- absolutely tying specific individuals to specific
transactions. Identix expects itrust(TM) to provide consumers with trust,
confidence and convenience in a transaction, enabling secure commerce
solutions and potential savings to businesses of multi-billions of dollars per
year through substantially reducing fraudulent activity.
Under terms of the agreement, VeriSign also appointed Identix as a premier
supplier of biometric solutions to VeriSign, including biometric
authentication, validation and security products and services. The terms of
supply will be agreed upon by the parties in a separate agreement. The
companies have also agreed to discuss the potential joint development of
additional products and service offerings.
Identix CEO Robert McCashin said, "Complete trust in a transaction is the
key to the expansion of e- and m-commerce. VeriSign's digital certificate
services add a highly complementary component to our itrust(TM) suite of
authenticated secure transaction management services. With the addition of
VeriSign as an itrust(TM) partner, we are taking another important step
towards providing complete trusted management services for wired and wireless
e- and m-commerce transactions."
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN) is the leading provider of trusted
infrastructure services to web sites, enterprises, electronic commerce service
providers and individuals. The company's domain name, digital certificate and
payment services provide the critical web identity, authentication and
transaction infrastructure that online businesses require to conduct secure
e-commerce and communications. VeriSign's services are available through its
web sites (www.verisign.com and www.netsol.com) or through its direct sales
force and reseller partners around the world.
About Identix
Identix Incorporated, www.Identix.com, is a leader in designing,
developing, manufacturing and marketing products for the capture and/or
comparison of fingerprints for security, anti-fraud, law enforcement, physical
access and other applications. Identix designs and develops proprietary,
cost-effective, security products and solutions for personal identification
and verification. Through its itrust(TM) division, Identix will offer a an
array of Internet and wireless Web secure transaction processing services, and
provide a wide range of applications to markets that include corporate
enterprise security, Intranet, extranet, and Internet, wireless Web access and
security, E-commerce, government and law enforcement agencies. Identix's
partners include Motorola, Compaq, Toshiba, Key Tronic, SCM Micro, Cherry GmbH
and Unisys.
All rights reserved. VeriSign is a registered trademark of VeriSign, Inc.
All other trade names mentioned are trademarks or registered trademarks of
their respective companies.
The statements in this release that relate to future plans, events or
performance are forward-looking statements that reflect the Company's current
expectations, assumptions and estimates of future performance and economic
conditions. Such statements are made in reliance on the safe harbor
provisions of the Securities Act of 1933 and the Securities Exchange Act of
1934. The Company cautions investors that any forward looking statements
involve risks and uncertainties that may cause actual results to differ
materially from those expressed or implied in such forward looking statements.
Such risks and uncertainties include, without limitation, risks and
uncertainties associated with: development of the marketplace for biometrics
solutions; demand for the Company's products and services; the ability of the
Company's alliances to succeed and in particular, the ability of the Company
to complete product development, successfully manufacture its products in
volume and broadly disseminate the Company's products; increasing levels of
competition in the space for wired and wireless web security services; the
perceived need for secure communications and commerce in such markets; and
other risks as identified in the Company's SEC filings. The Company disclaims
any intention or obligation to publicly update these forward-looking
statements to reflect events or circumstances that occur after the date hereof
or to reflect the occurrence of unanticipated events.
Statements in this announcement other than historical data and information
constitute forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those stated or
implied by such forward-looking statements. The potential risks and
uncertainties include, among others, potential volatility in VeriSign's stock
price, uncertainty of Internet privatization, increased competition in the
domain name registration business including price competition, customer
acceptance of new products and services offered by the company in addition to
or as enhancements of its registration services, risks associated with the
company's international business, uncertainty of future revenue and
profitability and fluctuations in its quarterly operating results. More
information about potential factors that could affect the company's business
and financial results is included in VeriSign's filings with the Securities
and Exchange Commission, especially in the company's Registration Statement on
Form S-4 filed on April 12, 2000, as amended, Annual Report on Form 10-K for
the year ended December 31, 1999 and Quarterly Report on Form 10-Q for the
period ended September 30, 2000.
For further information, please contact: For Identix Investors: Damon
Wright, Director of Investor Relations, (408) 731-2000, dwright@identix.com;
For Identix Media: Suzanne Matick, (831) 479-1888, smatick@pacbell.net; or For
VeriSign: Muriel Jaouich, 650-429-3546, mjaouich@verisign.com.
SOURCE Identix Incorporated
-0- 01/03/2001
/CONTACT: investors, Damon Wright, Director of Investor Relations,
408-731-2000, dwright@identix.com, or media, Suzanne Matick, 831-479-1888,
smatick@pacbell.net, both for Identix Incorporated; or Muriel Jaouich of
VeriSign, Inc., 650-429-3546, mjaouich@verisign.com/
/Web site: netsol.com
/Web site: verisign.com
/Web site: identix.com
(IDX VRSN MOT)
CO: Identix Incorporated; VeriSign, Inc.; Motorola
ST: California
IN: CPR MLM
SU: PDT
KK-RP
-- LAW006 --
5539 01/03/2001 08:01 EST prnewswire.com
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