ORLANDO, Florida, February 16, 2016 /PRNewswire/ --
ID Global Solutions Corporation (OTC: IDGS) ("IDGS" or the "Company"), a leading provider of Secure Biometric Identity and Electronic Transaction Solutions, announces its acquisition of FIN Holdings Inc. ("FIN") and its wholly owned subsidiaries, ID Solutions Inc. a Delaware Corporation specializing in field proven, cutting-edge biometric fingerprint software technology and algorithms, as well as Cards Plus SA, a South African company which provides unique secure credential products and solutions to government customers in Africa.
The acquisition enhances IDGS's current Transaction Security and Financial Inclusion platforms with highly accurate, fully integrated biometric fingerprint verification and backend matching capabilities. Recently tested by the U.S. Government National Institute of Standards, ID Solutions' proprietary fingerprint technology performed in certain cases ahead of other leading fingerprint biometric companies from around the world. This biometric technology has also been successfully deployed by the U.S. government as a back office AFIS solution that is used to ensure the identity of transportation workers throughout the country, as well as in U.S. commercial markets and by other governments worldwide in order to verify identity and secure physical and digital access.
With the addition of the Cards Plus portfolio of physical cards and card personalization solutions, IDGS can now provide government and commercial customers with a complete solution for their identity programs and financial payment systems.
The purchase price of $9,000,000, which is paid in the form of common stock of IDGS, will result in IDGS issuing 22,500,000 shares of IDGS common stock to the FIN shareholders. For more information on the acquisition, please refer to IDGS's Form 8-K as filed with the Securities and Exchange Commission contemporaneously with the issue of this press release.
Thomas Szoke, IDGS's Chief Executive Officer, stated,
"Enhancing our Secure Biometric Identity and Electronic Transaction platforms with state of the art, high speed biometric fingerprint processing and verification technologies, delivers enhanced security to our customers, while providing easy to use and trusted methods of real-time identification. Identification is essential to realizing the opportunity that global connectedness provides, so that more people may participate in the new economy regardless of where they live or their financial status.
ID Global Solutions Corporation (OTC: IDGS)
Secure Biometric Identity and Electronic Transaction Solutions
IDGS provides Secure Biometric Identity and Electronic Transaction Solutions enabling public safety, integrity and financial inclusion in a digital and mobile economy. Founded to pioneer innovative digital identification solutions, the Company is focused on addressing the growing need for highly secure and convenient methods for protecting consumers' digital presence during electronic transactions
Forward Looking Statements
This news release may contain forward-looking statements that are based on IDGS's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and IDGS undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
SOURCE ID Global Solutions Corporation