Saflink Announces Sale of Biometric Middleware Technologies
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KIRKLAND, Wash., March 2: Saflink(R) Corporation (NASDAQ:SFLK), a leading provider of solutions that verify identity, secure access and increase productivity, today announced the sale of SAFsolution and SAFmodule source code to an industry-leading enterprise security solutions provider. According to the terms of the agreement, Saflink received $778,000 in cash and will also receive royalties on sales during the next three years that incorporate the SAFsolution or SAFmodule source code.
The buyer of Saflink's technologies is a privately-held entity with an established distribution and significant relationships with top-tier, global computer manufacturers. The opportunity includes the ability to bundle SAFsolution and SAFmodule into software that is included on laptops and PCs manufactured by the buyer's partners and sold to corporate, government and retail customers. Based on current sales projections from the buyer, Saflink believes the royalties could be a multi-million dollar income stream during the next three years. Other terms of the agreement include the buyer taking over Saflink's current customer base for SAFsolution and SAFmodule.
"We're very pleased to conclude this agreement and are excited about its positive financial impact to the future of Saflink," said Steve Oyer, CEO, Saflink. "This transaction confirms our commitment to the strategy of Saflink's core technology group - to leverage our strong intellectual property portfolio to strategic partners who can monetize our technologies with collaborative business models that are mutually beneficial."
These biometric middleware products provide enterprise-grade security through a variety of strong authentication methods, including biometrics and smart cards. SAFsolution integrates with Microsoft(R) Windows(R) Active Directory(R) to boost network and workstation authentication security and simplify or eliminate password management. Similarly, SAFmodule brings biometric authentication to Novell(R) eDirectory(TM) networks by coupling Saflink proven multi-biometric security components with the Novell Modular Authentication Service(R) (NMAS).
About Saflink
Saflink Corporation offers biometric security solutions and smart card and cryptographic technologies that help protect intellectual property, secure information and eliminate passwords. Saflink technologies provide the basis for identity assurance management solutions that allow administrators to verify the identity of users and control access to computer networks, facilities and applications. Winner of several awards in 2006, Saflink has been recognized by organizations such as Software Magazine's Software 500 and Access Control & Security Systems. For more information, please visit www.saflink.com/ or call 800-762-9595.
Saflink PRESS CONTACT:
Sterling Communications
Katie James
(206) 388-5764
kjames@sterlingpr.com
INVESTOR RELATIONS CONTACT:
Investor Awareness, Inc.
Tony Schor
(847) 945-2222
tony@investorawareness.com
Source: Saflink Corporation
CONTACT: Katie James, Sterling Communications for Saflink,
+1-206-388-5764, kjames@sterlingpr.com; or Tony Schor, Investor
+Awareness,
Inc., +1-847-945-2222, tony@investorawareness.com
Web site: www.saflink.com/
