Sentex Sensing and Security IT Vision enter into long-term distribution deal

The terror attacks of 9/11 had an adverse effect many industries, but homeland security was not one of them. In particular, the biometrics industry has seen enormous growth, becoming a solid industry with potential far beyond the security industry. Proof: The biometrics technology market is now growing at 40 percent per year, and this is just the beginning. According to the International Biometric Group (IBG), annual biometric industry revenues are expected to reach $5.7 billion by 2010, up from $1.5 billion in 2005. IBG also predicts in 2006 fingerprint scanning will comprise 43.6 percent of the biometrics market, followed by facial recognition at 19 percent, middleware at 11.5 percent and hand geometry at 8.8 percent.

These favorable predictions are the reasons why Cleveland, Ohio-based Sentex Sensing Technologies and Roseville, California-based Security IT Vision have entered into an exclusive biometric technology distribution deal. Under the deal Sentex will market Secure IT Vision biometric and security technology products based on fingerprint identification, face recognition, and voice recognition technology. Sentex has stated its goal is to become the leader in international security in these areas:

physical access control

airport security

national ID cards

loyalty cards

internet authentication

network HW independent ID

intranet HW independent ID

single sign on

POS terminals

one-stop shop HW solutions

The final version of the contract was signed on 19 July. Both companies are expecting substantial growth and the ability to create a significant number of U.S. jobs. The Board and a majority of shareholders have already approved the deal. Assuming approval from the SEC and the complete body of shareholders, the deal is expected to be complete within the next several weeks.