BILLERICA, Mass., Jun 13, 2006 (BUSINESS WIRE) -- Viisage (Nasdaq: VISG), a leading provider of advanced technology identity solutions, today announced that the Departments of Transportation/Motor Vehicles in Pennsylvania, Wisconsin, Maryland and Arkansas have awarded new contracts or extensions to the company for innovative solutions to help provide security in the states' driver's licensing processes and procedures required of the federal REAL ID Act. The contract awards total more than $48 million and vary in length from six months to over seven years.
The contracts recently awarded to Viisage include key wins from major US states:
-- The Pennsylvania Department of Transportation (PennDOT) awarded Viisage $45.5 million in contracts. The contracts augment and strengthen the existing technology and solution to further secure the drivers' licensing process.(a)
-- The Wisconsin Department of Transportation awarded Viisage a $500,000 contract to implement automated document authentication to vet claimed identities prior to issuing valid driver's licenses. Wisconsin has been a customer since 1997 and in 2005 awarded the company a $7.5 million contract for issuance of driver's licenses and ID cards.
-- The Arkansas Department of Finance and Administration awarded Viisage a $2 million contract extension to continue the state's secure driver's licensing program. This extension follows the 1999 contract award and subsequent extensions which totaled $15 million.
-- The Maryland Department of Motor Vehicles awarded Viisage a $300,000 services extension on the contract Viisage won in 1999 for a secure driver's license solution. Awards and extensions from Maryland to date total over $9 million.
"We look forward to our ongoing partnership with Viisage as we move ahead with continued improvements to ensure the security of PennDOT's driver licensing products," said Betty Serian, Deputy Secretary for Safety Administration, PennDOT.
"These significant wins exemplify our leadership position in the marketplace, as we provide a myriad of solutions to help the states combat identity theft and fraud and comply with the REAL ID Act," said Bernard Bailey, president and CEO of Viisage.
Driver's licenses and IDs produced by the states in the U.S. continue to be important identity documents in personal transactions such as banking and travel. In May 2005, the Real ID Act was passed, challenging states to increase security in select identity documents and provide a means for interstate verification of an applicant's identity. Viisage provides a variety of end-to-end identity products, services and solutions to the driver's license marketplace for these initiatives, including the following: designing and developing secure driver's license and ID solutions; examining and verifying an identity prior to issuing a secure credential; automating document authentication for identity verification; detecting individuals suspected of identity theft or fraud; providing biometrics such as face recognition and fingerprint technologies for uniquely tying individuals to their identity documents and for investigation; and reconciling duplicate database records.
(a) Includes the seven-year extension previously announced on Viisage's quarterly earnings call on May 15, 2006
Viisage (NASDAQ: VISG) delivers advanced technology identity solutions for governments, law enforcement agencies and businesses concerned with enhancing security, reducing identity theft, and protecting personal privacy. Viisage solutions include secure credentials such as passports and drivers' licenses, biometric technologies for uniquely linking individuals to those credentials, and credential authentication technologies to ensure the documents are valid before individuals are allowed to cross borders, gain access to finances, or be granted other privileges. With more than 3,000 installations worldwide, Viisage's identity solutions stand out as a result of the company's industry-leading technology and unique understanding of customer needs. Viisage's product suite includes IdentityTOOLS SDK, Viisage PROOF, FaceEXPLORER®, iA-thenticate®, ID-GUARD®, BorderGuard®, PIER, HIIDE, AutoTest, FacePASS and FaceFINDER®.
This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this document and those made from time to time by Viisage through its senior management are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current views with respect to the future events or financial performance discussed in this release, based on management's beliefs and assumptions and information currently available. When used, the words "believe", "anticipate", "estimate", "project", "should", "expect", "plan", "assume" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Forward-looking statements concerning future plans or results are necessarily only estimates and actual results could differ materially from expectations. Certain factors that could cause or contribute to such differences include, among other things the size and timing of contract awards, performance on contracts, performance of acquired companies, availability and cost of key components, unanticipated results from audits of the financial results of the Company and acquired companies, changing interpretations of generally accepted accounting principles, outcomes of government reviews, developments with respect to litigation to which we are a party, potential fluctuations in quarterly results, dependence on large contracts and a limited number of customers, lengthy sales and implementation cycles, market acceptance of new or enhanced products and services, proprietary technology and changing competitive conditions, system performance, management of growth, dependence on key personnel, ability to obtain project financing, general economic and political conditions and other factors affecting spending by customers, and the unpredictable nature of working with government agencies. In addition, such risks and uncertainties include, among others, the following risks: that the merger with Identix will not close, that the regulatory or shareholder approval will not be obtained, that the closing will be delayed, that customers and partners will not react favorably to the merger, integration risks, the risk that the combined companies may be unable to achieve cost-cutting synergies, and other risks described in Viisage's and Identix' Securities and Exchange Commission filings, including the Registration Statement on Form S-4 filed with the SEC in connection with the transaction, Viisage's Annual Report on Form 10-K for the year ended December 31, 2005 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2006 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," and Identix' Annual Report on Form 10-K for the year ended June 30, 2005 and its Quarterly Reports on Form 10-Q for the quarters ended September 30, 2005, December 31, 2005 and March 31, 2006 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Viisage expressly disclaims any obligation to update any forward-looking statements.
L-1 Investment Partners
Doni Fordyce, 203-504-1109
Chad Crouch, 703-414-5474