Telos acquires touchless fingerprint biometric software, patents from DFT
Telos Corporation has acquired the ONYX touchless fingerprint biometric software and other assets of Diamond Fortress Technologies (DFT), and appears to be targeting new verticals with the technology.
Following the transaction, Telos plans to integrate ONYX biometrics with its IDTrust360 platform. Adding the touchless technology enables Telos to serve the requirements of existing customers and new markets, including transportation, healthcare and financial services, according to the announcement.
ONYX uses a camera, such as on a mobile device, to capture fingerprint biometrics.
The deal also includes DFT’s intellectual property, adding several patents to Telos’ library of biometric and digital identity IP.
Telos refers to a Grand View Research forecast that contactless biometrics will grow from a $7 billion base in 2019 at a compound annual growth rate of 20 percent from 2020 to 2027.
“Enhancing IDTrust360 with ONYX will provide a game-changing licensed technology stack for organizations that are interested in mobile-enabled biometric capture and authentication services,” comments John Wood, CEO and chairman, Telos. “We believe the acquisition of this patented touchless fingerprinting technology will allow us to eliminate much of the friction involved in biometrics data gathering for identity and access management and to better serve our growing customer base at both the enterprise and consumer levels.”
Telos is bringing seven of DFT’s employees on board to maintain and expand ONYX, including key patent holders.
The terms of the transaction were not disclosed, and Telos says its financial guidance for fiscal 2021 is unchanged.
Telos is one of the few companies recently approved by the TSA to provide biometrics enrollment for PreCheck.
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Article Topics
biometric software | biometrics | contactless biometrics | Diamond Fortress Technologies | fingerprint recognition | patents | stocks | Telos ID
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