DOVER, N.H., Feb. 14, 2006 (PRIMEZONE) -- Liska Biometry (OTCBB:LSKA) a provider of advanced biometrics solutions, today said it has reached a definitive merger agreement with Digital Card Systems Inc. of Acton, MA, a privately-held provider of integrated identification solutions and secure identification documents. The plan to merge was announced in December.
Christopher J. LeClerc, Liska's President & CEO, said, "We want to be a full service provider of identification and authentication solutions to customers, from the day to day commercial applications, to large system integrators, corporate end-users and to governments. By bringing together the experience and technology of DCS, coupled with the Liska proprietary BIN technology we are positioned to go after a larger portion of the secure identification market worldwide. Our technology offerings address the security needs as it applies to national ID systems, secure voter registration, drivers licenses, passports, commercial IDs, etc."
LeClerc said Liska Biometry recognized a trend toward consolidation in the security industry as vendors increasingly move toward offering more tightly integrated solutions to meet today's heightened concerns for security and authentication.
"This merger brings together two experienced solution providers and will expand the range of integrated solutions that we can offer to a broad spectrum of customers," he said. Based in Dover New Hampshire, the company, through its merger with DCS will maintain sales and technical support offices in Massachusetts, Chicago, Canada, Germany, Peru and in Africa. DCS has a long track record of providing identification solutions around the world. Liska has been focused on biometric recognition software and solutions.
Charles R. Benz, chairman of Digital Card Systems, welcomed the merger. He said, "This agreement is an example of how Liska Biometry and its partners can address both the demand for integrated solutions and the requirements associated with large-scale ID management projects. The merger will increase the level of resources and expertise that we can put in service for our customers," he said.
"The DCS team is particularly pleased to join with Liska Biometry because of their advanced fingerprint technology and the extensive Wall Street experience of the Liska principals and management team. We are committed to delivering complete, advanced solutions to our customers and appreciation to our shareholders. The merger is part of a strategy that will see the two companies working under one name to deliver a wide range of biometrics and security solutions," Benz said.
LeClerc said robust identification and authentication is a rapidly growing market worldwide. "At the end of the day, our goal is to run a profitable business and create value for shareholders. We now have a global platform from which to pursue those goals. The strategy will be to grow this business by not only providing these complete solutions worldwide, but also by acquiring synergistic companies in our space. The trend in our industry includes using strategic acquisitions to expand the range of services offered to customers and better meet their security needs."
Liska, which is publicly traded, will complete an 8K filing with the Securities and Exchange Commission detailing the agreement. The merger remains subject to the terms of the agreements including but not limited to a completion of audits, a vote of the shareholders of both companies, and final SEC approval.
About Digital Card Systems
Digital Card Systems Inc. provides identification systems from the desktop to secure, centralized ID card production facilities. DCS also provides consulting and support to companies working to expand distribution opportunities. DCS customers range from dealer resellers to mid-sized and large companies and governments.
About Liska Biometry
Liska Biometry develops revolutionary fingerprint biometric solutions enabling fast individual authentication, precise identification searches, and cross-platform data interoperability. The Company's innovative, scalable technology generates a short, repeatable, unique, numerical identifier from an individual's fingerprint. This short number becomes a precise, universal biometric identifier that can be embedded in credit cards, driver's licenses, travel documents such as visas and passports, and other personal identification credentials. Liska's innovative technology allows for seamless, integrated identification searches across disparate databases at all levels of government and law enforcement.
Liska Biometry is listed on the Nasdaq OTC Bulletin Board under the symbol "LSKA." The Company headquarters is in Dover, New Hampshire.
Safe Harbor Statement
This news release may contain forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Liska Biometry, see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.