Imageware Systems Inc (OTCMKTS:IWSY) a pioneer firm in cloud-based and mobile, biometric identity management solutions, finalized a three year licensing deal with Lockheed Martin Corporation (NYSE:LMT). Under the agreement, Imageware Systems will integrate its Biometric Engine® technology into the Lockheed cloud-based biometric, IDHaystack IDaaS platform. Also, Lockheed will provide the identity service to the U.S. Fed government and other clients through its government community cloud known as SolaS®.
The management speaks
Jim Miller, the CEO and Chairman of Imageware, stated that Lockheed Martin is a world class known company. The two companies are known for delivering world class biometric technology and products to markets. The CEO further added that they believe the IWS Biometric Engine will give company associates at Lockheed Martin with a major advantage as they grab opportunities in the industry of Identity Management.
John Mears of Lockheed Martin stated that the IDHaystack service is a unique way to provide open backend storage facilities to support almost all biometric-enabled operation utilizing one or more client-selected algorithms for advanced and common biometrics. He added that associating with Imageware enables them to more quickly provide secure, advanced, cloud-based services to clients and their missions.
The strength of Imageware Systems is the biometric identity management solutions based on multi-modal biometrics. These solutions play an important role in the user authentication on premises as well as in the cloud. The patented “plug-n-play” technology supports Out-Of-Band authentication and interactive communication on mobile platforms. Imageware products list include GoMobile Interactive® and GoCloudID® which enables flexible, modular and scalable identity solutions deployed in various markets such as healthcare, financial services, wireless and mobile.
In last trading session, the stock price of Imageware Systems jumped more than 7% to close the trading session at $1.82. The gains came at a share volume of 555,930 compared to average share volume of 81,224.