STAMFORD, Conn., Apr 17, 2007 (BUSINESS WIRE) -- L-1 Identity Solutions, Inc. (NYSE: ID), a leading supplier of identity solutions and services, has entered into a definitive agreement with New York-based Verified Identity Pass, Inc. to support Clear(R), the only registered traveler program operating at U.S. airports. Under the agreement, L-1 will provide kiosks for enrolling travelers in the Clear(R) Registered Traveler program and verifying their credentials at airports nationwide. L-1 also will provide a range of services necessary for airport setup, construction and maintenance of the kiosks. The five-year agreement has a potential value to L-1 of up to $50 million in revenue.
Verified Identity Pass' Clear Registered Traveler program allows business travelers and other frequent fliers to pay an annual fee of $99.95 to provide their background information for pre-screening by TSA and, if approved, receive a biometric identity card that will allow them expedited access through airport security checkpoints.
"Interoperability, security and efficiency are the essential ingredients for making the registered traveler initiative a success," said Robert V. LaPenta, Chairman, President and CEO of L-1. "Through this partnership, L-1 Identity Solutions will provide the Clear Registered Traveler program with comprehensive services to ensure that all enrollment and verification operations are supported by industry-leading components and services."
Key members of the L-1 team include ARINC, who will license software used for passenger enrollment and verification to L-1, and OSI Rapiscan, who will perform site preparation, construction, and maintenance at airports.
Other Clear team members include Lockheed Martin, an equity investor in Clear and provider of secure data transmission services and General Electric, also an equity investor and provider of advanced security equipment, such as its shoe scanner, at Clear lanes.
Clear Registered Traveler has been operational since July 19, 2005 at Orlando International Airport and has over 40,000 members. Earlier this year, the program launched lanes at JFK's British Airways Terminal 7 and at terminals in San Jose, Indianapolis and Cincinnati International airports in the United States. Additionally, Clear Registered Traveler will begin operating programs soon at JFK's Terminal One and Four and Newark's Terminal B. Clear operates all eight U.S. Registered Traveler programs accepting enrollments, five of which are already processing passengers through the Clear lanes.
"With the addition of L-1, we believe we have the ultimate dream team in place for the accelerated roll-out of airports that we expect through 2007 and 2008," said Steven Brill, CEO, Verified Identity Pass. "By deploying L-1's credentialing and document authentication expertise and its enrollment capabilities, along with cutting edge new technology from Lockheed Martin, GE and others, Clear is poised to deliver the most streamlined, efficient and accurate security process available to travelers today, along with gold standard customer service."
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. (NYSE: ID), together with its portfolio of companies, offers a comprehensive set of products and solutions for protecting and securing personal identities and assets. Leveraging the industry's most advanced multi-modal biometric platform for finger, face and iris recognition, our solutions provide a circle of trust around all aspects of an identity and the credentials assigned to it -- including proofing, enrollment, issuance and usage. With the trust and confidence in individual identities provided by L-1 Identity Solutions, government entities, law enforcement and border management agencies, and commercial enterprises can better guard the public against global terrorism, crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions is headquartered in Stamford, CT. For more information, visit www.L1ID.com.
Verified Identity Pass' Clear Registered Traveler is the only registered traveler program operating at U.S. airports. Clear has been operational since July 19, 2005, at Orlando International Airport and has over 40,000 members nationwide. Earlier this year, Clear launched lanes at JFK's British Airways Terminal 7 and San Jose, Indianapolis and Cincinnati International Airports. Clear will soon begin operating programs at JFK's Terminal 1 and 4 as well as Newark's Terminal B. In addition, Clear has been selected by Albany International Airport for a program there. The company also has an agreement with Toronto Pearson International Airport to operate a Canadian program, working with Canadian authorities. Clear's verification kiosk with shoe scanning technology, co-developed with Verified Identity Pass' partner GE, will allow members, in most instances, to keep their shoes on as they pass through the Clear lanes at the security checkpoint. For more information, visit www.flyclear.com.
This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release and those made from time to time by L-1 Identity Solutions 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 based on management's beliefs and assumptions and information currently available. 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 Company's ability to achieve full potential revenue value with its Clear Registered Traveler program contract, the availability of government funding for L-1's products and solutions, the size and timing of federal contract awards, performance on existing and future contracts, general economic and political conditions and other factors affecting spending by customers, and the unpredictable nature of working with government agencies. Additional risks and uncertainties are described in the Securities and Exchange Commission filings of the L-1 Identity Solutions, including the Company's Annual Report on Form 10-K for the year ended December 31, 2006. L-1 Identity Solutions expressly disclaims any intention or obligation to update any forward-looking statements.
SOURCE: L-1 Identity Solutions, Inc.
L-1 Identity Solutions Doni Fordyce, 203-504-1109 dfordyce@L1ID.com
Copyright Business Wire 2007
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