StereoVision Imaging closes financing deal, acquires Digital Signal Corporation
StereoVision Imaging announced today that it has closed on a financing package with a provider of structured debt products to technology and life science companies. A portion of the financing was used by StereoVision to acquire the assets of LIDAR-based facial recognition technology developer Digital Signal Corporation.
In an emailed statement to Biometric Update, Frank Grossman, StereoVision Imaging CFO, said that the transaction closed on February 14, 2018.
“We are thrilled to have access to Digital Signal’s ground-breaking LIDAR technology which will enable us to expand our Identity Intelligence solutions for law enforcement, homeland security, military and other public safety applications,” commented Greg Steinthal, founder and president of StereoVision. “The LIDAR-based 3D facial recognition technology which we have acquired from Digital Signal provides extremely accurate, real time facial recognition, capable of identifying non-cooperative individuals or ‘faces-in-a-crowd’ at extended ranges.”
According to the announcement, this capability complements StereoVision’s hand-held 3D Facial Recognition Binocular System (FRBS), which is currently being delivered to the U.S. Army under a sole-source contract.
Digital Signal Corporation has developed facial intelligence solutions incorporating LIDAR-based sensors, proprietary software and systems, which provide full-cycle identity intelligence, including enrollment, monitoring and identity analytics. With this acquisition StereoVision is acquiring a significant portfolio of U.S. and international patents related to the use of LIDAR technology for 3D facial recognition and other potential applications.