Liska Biometry Executes Strategic MOU with Saudi Minerva to Explore Biometrically Enabled ID Management Systems Offerings
06 July 2005 - 11:15PM
Business Wire
Company to assess the feasibility of integrating Liska's BIN(TM)
customized solutions into Minerva's security deployments Liska
Biometry (OTC BB:LSKA - News) a biometrics solutions provider,
today announced the signing of a strategic Memorandum of
Understanding (MOU) with Saudi Minerva, Company. Ltd. of Saudi
Arabia, one of the leading security systems integrators in the
Kingdom of Saudi Arabia. The MOU outlines the development strategy
of business opportunities for biometrically enabled ID management
systems and customized security solutions. Under the MOU, Liska and
Minerva will jointly integrate Liska's revolutionary BIN(TM)
Descriptor ID management software suite as well as its customized
solutions offerings, such as SecurBIN(TM) within Minerva's existing
customer environment. The two parties have already begun system
deployment feasibility plans for several potential clients, such as
the Ministry of Interior and Public Security. Safety concerns in
Saudi Arabia are fueling a rapid expansion in the security market.
A recent survey conducted by Hitachi Data Systems Middle East
revealed that 56 percent of Saudi firms were planning to introduce
iris scanning and fingerprint recognition systems for increased
security at office buildings. Biometric technology is already being
adopted by Saudi border control and public sector organizations.
"This agreement is another example of how Liska Biometry and its
partners are able to address the current market demand for
integrated solutions as well as anticipated requirements associated
with large scale ID management projects," said Manoj E. Hippola,
CFO and President of Liska Biometry Canada. "We are excited about
expanding the reach of our current security offerings" said Khaled
Rajab, General Director of Saudi Minerva. Saudi Minerva Company
Ltd. Is a multinational private company that specializes in the
installation of fire protection and security systems. The Company
was founded in 1980 and is headquartered in Jeddah, KSA. Liska
Biometry Safe Harbor Statement This news release contains
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.
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