Telos Corporation Expands Into Touchless Fingerprinting Capability with Acquisition of Diamond Fortress Technologies
August 02 2021 - 8:59AM
Telos® Corporation (NASDAQ: TLS), a leading provider of cyber,
cloud and enterprise security solutions for the world’s most
security-conscious organizations, announced today that it has
acquired the assets of Diamond Fortress Technologies (DFT),
including all patents, and will integrate the ONYX® touchless
fingerprinting software with Telos’ IDTrust360® platform.
The acquisition adds several new patents to Telos’
library of biometric and digital identity intellectual property.
The addition of contactless biometrics technology will enable Telos
to better serve the needs of organizations in existing and new
markets, including transportation, healthcare and financial
services. This acquisition solidifies Telos’ position in an
expanding market, with contactless biometrics technology expected
to grow from approximately $7 billion in 2019 at a CAGR of 20% from
2020 to 2027.
“Enhancing IDTrust360 with ONYX will provide a
game-changing licensed technology stack for organizations that are
interested in mobile-enabled biometric capture and authentication
services,” said John Wood, CEO and chairman, Telos. “We believe the
acquisition of this patented touchless fingerprinting technology
will allow us to eliminate much of the friction involved in
biometrics data gathering for identity and access management and to
better serve our growing customer base at both the enterprise and
consumer levels.”
ONYX is a mobile, touchless biometrics solution
that leverages a device’s camera to capture the user’s unique
fingerprint, enabling fast and easy collection of fingerprint
biometrics. To maintain and expand the ONYX technology, Telos has
hired seven current DFT employees, including the key patent holders
and employees critical to the growth and expansion of this
technology.
Terms of the transaction were not disclosed, and
there is no change to Telos’ 2021 financial guidance as a result of
the acquisition.
For more information about Telos identity solutions
and services, visit: www.telos.com/identity.
Forward-Looking StatementsThis
press release contains forward-looking statements which are made
under the safe harbor provisions of the federal securities laws and
which involve risks and uncertainties. There are a significant
number of factors that could cause actual results to differ
materially from statements made in this press release, including
without limitation the risks and uncertainties set forth from time
to time in the Company’s filings and reports with the U.S.
Securities and Exchange Commission (SEC), which are available
at www.investors.telos.com and on the SEC’s website
at www.sec.gov.
You should not rely on these forward-looking
statements, as they are not guarantees of future performance and as
actual outcomes and results may differ materially from those
anticipated or implied by these forward-looking statements as a
result of such or other risks and uncertainties. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we do not
assume any obligation to update or revise any forward-looking
statements provided to reflect events that occur or circumstances
that exist after the date on which they were made except as may be
required by law.
About Telos CorporationTelos
Corporation (NASDAQ: TLS) empowers and protects the world’s most
security-conscious organizations with solutions for continuous
security assurance of individuals, systems, and information. Telos’
offerings include cybersecurity solutions for IT risk management
and information security; cloud security solutions to protect
cloud-based assets and enable continuous compliance with industry
and government security standards; and enterprise security
solutions for identity and access management, secure mobility,
organizational messaging, and network management and defense. The
company serves military, intelligence and civilian agencies of the
federal government, allied nations and commercial organizations
around the world.
Media:Mia
Wilcoxmedia@telos.com(610) 564-6773
Investors:Brinlea JohnsonThe
Blueshirt Group on behalf of Telos
Corporationbrinlea@blueshirtgroup.com
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