MorphoTrust lands new fingerprinting contracts with potential worth of $54M over 6 years
MorphoTrust USA has announced a series of fingerprinting contracts with potential to yield up to $54 million in revenue over the next six years.
The new contracts are with the Maine State Police and State Bureau of Investigation, the Michigan Department of Technology, Management and Budget as well as the Florida Department of Financial Services.
According to the company, the contract with the Maine State Police and State Bureau of Investigation covers a pilot program of fingerprinting services to state agency employees, such as the Department of Education, with the initial goal of 10,000 to 15,000 enrollments per year. MorphoTrust says it will also provide its automated criminal history processing and reporting solution. The two-year contract can be renewed for an additional three-year period with potential to generate $7.7 million in revenue over the full duration of the contract.
The contract with the Michigan Department of Technology, Management and Budget will provide fingerprinting services and a data interface to all end-using state agencies, including: the Michigan Department of Licensing and Regulatory Affairs; Michigan State Police; Michigan Department of Community Health; Michigan Department of Human Service; Michigan Department of State; Michigan Gaming Control Board; and Michigan Department of Corrections. These agencies will use MorphoTrust’s fingerprinting services to conduct background checks on job applicants and existing employees in accordance with Michigan state law. Enrollments are projected to increase from 63,000 to 170,000 applicants per year, including legacy business. The three-year contract is worth over $6.8 million and can be renewed for two, one-year periods.
Fingerprinting isn’t MorphoTrust’s only speciality. The company has just published a new infographic outlining how facial recognition technology helps law enforcement agencies bring criminals to justice.
“Fingerprinting has been a significant growth business for MorphoTrust and it’s no wonder why,” Charles Carroll, senior vice president of MorphoTrust’s services business said. “While fingerprinting is just one way we can establish identity and reduce fraud, it is a proven method of keeping criminals out of business and protecting the American public, including vulnerable groups like our children.”
The contract with the Florida Department of Financial Services covers the fingerprinting of insurance agents statewide. Approximately 68,000 applicants will be fingerprinted per year through a total of 69 third-party enrollment centers in 61 cities across the state. The three-year contract, valued at approximately $600,000 per year, can be renewed for three additional one-year periods. MorphoTrust has been doing fingerprinting work with the State of Florida for more than 10 years.
Reported previously, the company also recently updated its inmate identification, enrollment and tracking solution.