Blackbird International Corporation Announces Its Acquisition of Insight ID
30 Apr, 2012, 04:00 ET
OAKVILLE, Ontario, April 30, 2012 /PRNewswire/ -- BLACKBIRD INTERNATIONAL CORPORATION (PINKSHEETS: BBRD) is pleased to announce that it has acquired an integral addition to its Technology and Business Services division. Insight ID is a real-time authentication service that allows one's personal identity to be verified with nothing more than a web-browser and an internet connection. This service fills the need for identification at many levels of commercial and security checks. Retail outlets lose billions because of fraudulent use of checks and credit cards by culprits with false identification papers.
Insight ID has filed patent applications and has developed its Global Authentication Exchange server (GAX) which provides for quick hook-ups to databases in various countries.
''Our technology will verify the authenticity of the documents presented at the points of sale. Rental car agencies also are targets of end users with false drivers permits and these agencies are ultimately responsible for the costs that may be associated by these usurpers of identity,'' states Lee Rector, Blackbird's Executive Vice President. He adds, ''Our technology is very well received by the industry and is being tested at various locations in the United States.''
The potential growth for global market revenues from real time ID Authentication services is estimated at $100 billion. As a sub-segment of the market, industry experts estimate that identity management software will be in the range of $10.2 billion in the very near future.
Furthermore, this will prove to be a breakthrough in security technology that would ensure the name, age and identity of those who present themselves at any point of verification. The Company is entering into a market that can prevent billions of dollars of losses per year suffered by retail outlets and credit card suppliers alone. It also fortifies security checks.
About Blackbird International Corporation
Blackbird has two main divisions in its operations: the Technology and Business Services division develops and manages software both in the gaming industry as well as in the field of supply chain management. It develops products and provides the installation and the services required by many Fortune 500 clients. Among its clientele for its technology and services include Fosters Beer (Australia), Nestle, Coca-Cola, MainFreight (Australia). It is in an acquisition mode in order rapidly become a major firm in this lucrative global market.
Through its second division, the company is setting up and operating casinos and gaming centers in North America, the Caribbean and East Europe. Its first site shall be in Queretaro, Mexico. The Company has a letter of intent with Juegos De Mexicana by which it will own 50% interest in the casino and will manage its operations. The casino will be fully licensed to operate electronic gaming terminals, bingo, keno, electronic card games, sports betting and several others.
Blackbird has also entered into an agreement to own and manage a casino in Panama for which construction should start within three months.
The Company shall use its expertise and software to install and manage the electronic gaming equipment in the casinos.
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include the fluctuations in the price of gold and in the event of severe weather conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
SOURCE Blackbird International Corporation
Share this article