Imageware, a leader in biometric identification and authentication announced that its Board of Directors has retained Imperial Capital, a leading investment bank with significant expertise in the security sector, to initiate a review of available strategic alternatives to maximize shareholder value for the Company.
“Imageware has been undergoing a comprehensive transformation process, rebuilding and creating products that will drive the company’s value and increase market share in enterprises as well as federal, state and local government,” said Company Chair, President, and CEO Kristin Taylor. “We’ve received considerable inbound interest over the past few months relating to Imageware’s three decades of experience in providing federal governments with biometric authentication as well as our work in building a biometric blockchain identity management platform.”
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“Imageware has enhanced its core biometric engine, rebuilt its enterprise multi-factor authentication (MFA) product and revamped its original law enforcement platform. These initiatives have been major builds, performed by a talented team of engineers and supporting staff. We also continue to be one the most cited companies in IP for biometrics, by the likes of some of the largest corporations in the world.”
“The board sees great opportunity to continue to transform this company and rapidly accelerate growth in the long term. To help maximize our future potential, we have determined that a strategic review should be conducted. Now is the time for biometrics, and Imageware is in prime position to help lead and change this market given its rich past and talented team who have transformed the company over the past 18 months.”
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Imageware does not expect to disclose further developments relating to the strategic review process, unless and until its Board of Directors has approved a specific transaction, otherwise concludes the review of strategic alternatives or determines that further disclosure is appropriate. There can be no assurance the process will result in the Company pursuing a particular transaction or consummating any such transaction.
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