Datasonic and Digent stand up joint next-generation biometrics venture
A new joint venture company has been formed to develop and market next generation biometric applications, through a partnership between Datasonic and South Korea-based Digent, The Edge Markets reports.
The new Datasonic Digent Sdn Bhd (DDSB) will be 60 percent owned by Datasonic and 40 percent owned by Digent, according to a stock exchange filing by Datasonic. The companies will appoint up to four and three directors for the new company, respectively.
The collaboration will provide Datasonic with an opportunity to expand its range of biometric solutions, systems, and services.
Datasonic is publicly listed in its home base of Malaysia, and the company will operate out of an MSC Malaysia-designated Cybercity or Cybercentre, or another location determined by DDSB. Datasonic provides eID and biometric passport services, automated gates with fingerprint and facial biometrics for the airport market, security CCTV and access control systems, terminals and kiosks for bank, government, and commercial customers, and smart card issuance.
Digent’s website notes a memorandum of understanding (MOU) dating back to 2017 relating to the proposed collaboration.
Datasonic’s share price climbed 1 percent the day of the announcement, for a market cap of Rm. 1.36 billion (US$330 million), and the price has more than doubled in the past year, according to The Edge Markets.
Next generation biometrics have been forecast to make up a $25 million global market by 2022.