FB pixel

Xtract One funded by notable NYC fan of biometric surveillance

Xtract One funded by notable NYC fan of biometric surveillance
 

Canadian biometric access management firm Xtract One has received a financial infusion from Madison Square Garden Sports Ventures.

It is not a lot — C$13.4 million (US$10 million) – but for people trying to find out if Xtract is selling software and hardware to Madison Square Garden Entertainment, parent of MSG Sports, which owns MSG Sports Ventures, the news seemed to be a good indication.

Xtract One was introduced as the new name for Patriot One Technologies near the end of 2022, with the CEO noting in a blog post that the connotations of the name being retired are increasingly fraught.

The investment will come in two tranches of C$8.4 million now and C$5 million when U.S. and Canadian regulators approve the idea.

The venture fund, which held no share previously, now controls about 10.9 percent of Xtract One’s outstanding common shares on a non-diluted basis, and 19.69 percent on a partially diluted basis.

MSG Sports only manages teams (including the NBA New York Knicks and the NHL New York Rangers). MSG Entertainment handles sports and other venues, and the same man, James Dolan, controls both organizations.

Dolan has been using facial recognition surveillance to block entrance to MSG Entertainment venues to all attorneys working for law firms representing those who oppose him in court.

Given the focus on MSG Entertainment’s unique biometric access management policies, it is useful to note that Xtract has a product, Multi-Sensor Gateway, that goes by the initials MSG, something that has excited those spelunking these corporate depths. It is not a reference to Dolan’s fiefdom.

MSG Entertainment does not have Xtract One products, according to a source with direct knowledge who spoke on background because the company does not want to comment officially. Does MSG Sports have the company’s products? The word “no” is not uttered.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News

 

Deepfake legislation up against constant evolution of generative AI

“Deepfake detection in generative AI: A legal framework proposal to protect human rights” is a newly published research paper by…

 

Biometrics Institute industry survey gathers professional insights

The Biometrics Institute is inviting industry professionals to participate in its 16th annual industry survey. The Institute notes that it…

 

Biometric tools shift from control to resistance

In the accelerating age of facial recognition technology (FRT), a growing counter-surveillance movement is flipping the script on who gets…

 

Deepfake competition from FinVolution seeks innovative detection models

Deepfake detection is in the spotlight at the FinVolution Group’s 2025 FinVolution Global Data Science Competition. A release says the…

 

Incode biometrics and liveness detection to power Descope IAM workflows

Descope, which provides enterprise IAM solutions for managing external digital identities, is adding biometric user onboarding and self check-ins through…

 

UK police look at future tech, including biometrics like brainwaves

With technology, what was once cutting edge will one day become the norm. Currently, the police are incorporating facial recognition,…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events