Enlightenment Capital moves into biometrics with PrintScan acquisition, Infinite ID launch
Investment firm Enlightenment Capital has completed the purchase of biometric company PrintScan via its identity software subsidiary Infinite ID, established after the acquisition.
The move represents the investment firm’s intention to move into the biometrics and identity management market and will see PrintScan remain a standalone brand under its new parent company.
“We expect the adoption of biometrics to expand dramatically in both the range of use cases and the frequency of transactions,” comments Devin Talbott, founder and managing partner of Enlightenment Capital.
“That adoption and continued innovation will help speed consumer transactions, enhance employment accreditations, and empower law enforcement and national security operations.”
According to the executive, the COVID-19 pandemic has accelerated the need for biometric data to support the mitigation, tracking, and response to cross-border and global crises.
“We are excited to launch Infinite ID and to partner with Tom [Van Schuyler] and the PrintScan team as we build the next great biometrics solutions company,” Talbott adds.
Alongside the PrintScan acquisition and Infinite ID creation, Enlightenment Capital also told the Washington Business Journal it has made an undisclosed investment in biometric software and hardware developer Laxton Group, now known simply as Laxton, allocating funds from the $540 million Enlightenment raised in June.
Laxton CEO and Founder Lyle Laxton says the investment will cotribute to his company’s growth through mergers and acquisitions and strategic technology initiatives.
Talbott says he was attracted to the growth potential of biometrics and the range of applications the technology can be used for.
Van Schuyler, a former NYPD Detective, founded PrintScan in 2004. The company has since obtained finger biometric certifications from the FBI and the Royal Canadian Mounted Police (RCMP).
“The launch of Infinite ID and the partnership with Enlightenment Capital strengthen our capacity to serve our customers, add new technologies to our platform, and enter new private and government markets,” explains Van Schuyler, who will now serve as CEO of Infinite ID. “I am thrilled to lead Infinite ID and PrintScan through this next phase of our evolution.”
The PrintScan sale is the first major deal in the biometrics space since a series of acquisitions were announced in August.