Newly Appointed CEO Completes Restructuring Plan To Resume Product Delivery
SANTA CLARA, Calif.–(BUSINESS WIRE)–Sept. 24, 2001–Veridicom, a leading manufacturer of silicon fingerprint sensors and software, today announced completion of its corporate restructuring plan. Resuming operations following its recent acquisition, the newly streamlined Veridicom has re-focused on its core competencies, and is continuing to provide customers with best-of-breed biometrics chips and software.
With recently appointed CEO, Naeem Zafar at the helm, Veridicom is quickly re-establishing its relationships with a prestigious line-up of loyal Global 1000 customers, who have stood by the company following the sudden U.S. market downturn that hit the high-tech industry earlier this year.
Fulfilling its rapid growth strategy, Veridicom expects to be fully re-staffed within the next ninety days. “Our new owners have helped streamline operations so the company can regain competitive market leadership with its world-class biometric solutions,” said Naeem Zafar, newly appointed President and CEO, Veridicom Inc. “With a tighter focus on core competencies, we are increasing our partnerships with outside hardware and software companies for greater cost efficiencies.”
Veridicom is unique in the biometrics industry as the only maker of silicon-based fingerprint biometrics systems to also provide application software to enterprise customers. Veridicom is widely known for setting industry standards with its innovative algorithms that have been licensed to other major biometric companies. As a result of its recent acquisition by Pass21, Veridicom is re-entering the biometrics market as a new business entity, although it will retain and continue to build its highly regarded brand name.
Veridicom’s sales, support and operations teams have already resumed full operations with the delivery of 5thSense and 5thSense Combo peripherals to enterprise customers using fingerprint authentication as state-of-the-art network log-on security, digital signature, and password protection. Sales teams are currently taking orders for FPS110 and FPS200 sensors with lead times of under four weeks.
Veridicom, Inc. is a leader in fingerprint-based biometrics solutions that assure people’s personal identities through digital recognition. Founded in 1997, Veridicom was a Lucent/Bell Labs spin-off that innovated secure authentication solutions far surpassing passwords and PIN numbers. Veridicom customers can conduct business using any digital device equipped with its sophisticated chips and software to conduct remote business without fear of fraud. Currently used in laptops, keyboards, mobile phones, Veridicom solutions also provide authorized employees secure access to remote computer systems and high-security facilities for a growing list of Fortune 1000 companies worldwide.
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