SAN DIEGO, CA--(Marketwired - Aug 7, 2013) - ImageWare Systems, Inc. (
Under the terms of the agreement, ImageWare will deliver software licenses during the third quarter of 2013, whereby the company will receive approximately $1.5 million in revenue. Additionally, ImageWare will receive service revenue valued at approximately $650,000 that will be recognized proportionally over the next year.
ImageWare's biometric identity management solution was first installed with the VA in 2007. The solution provides large-scale, agency-wide biometric identity and credential management capabilities, such as biometrically enabled PIV credentials that are in compliance with U.S. government standards. As part of the system expansion, the VA will also be adopting ImageWare's patented, hardware and algorithm independent Biometric Engine® 2.0, enabling the enrollment and management of unlimited population sizes.
"The U.S. Government has confirmed multi-modal biometric identity management as the only way to move forward as it offers a greater level of security and reliability," said Jim Miller, chairman and CEO of ImageWare. "ImageWare's proven track record of government experience executing best-of-breed patented, fully compliant biometric solutions will drive the standards for commercial adoption. We are honored to continue working with the VA and expand our services in support of their mission. As we look forward, I am confident we will introduce similar solutions to our global enterprise customers and solution provider partners."
The Biometric Engine 2.0, ImageWare's patented, backend database for CloudID™, delivers revolutionary capabilities:
- Enrollment, identity and verification management of unlimited population sizes
- Hardware and algorithm independent processing
- Compatibility with all biometric products
- Future-proof, plug-and-play flexibility
- Product modules that can be implemented together or individually
- License and/or subscription service offering
- Software development kits
About ImageWare Systems, Inc.
ImageWare Systems, Inc. (
Forward Looking Statements
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