February 4, 2019
The Company provides branded and private label state-of-the-art devices for the detection and prevention of fraudulent transactions. Core products authenticate documents and currency and are installed in thousands of retail locations and banks and in more than 200 U.S. airports at security checkpoints to authorize ID documents. The Company’s proprietary software solution is used to conduct high-level forensic authentication of identity documents and could offer an acquirer a recurring licensing revenue stream.
The Company acquired 486 new customers in 2018 and typically has 2,000 accounts with active transactions. As a result of strong relationships with its blue-chip customer base, the Company is poised for growth. Management believes its new, more focused sales strategy will position the Company to secure larger, more lucrative deals in 2019 and 2020.