Voxx Invests $3M In EyeLockHauppauge, N.Y. — Voxx International said Monday it has made a $3 million strategic investment in iris-based identity authentication solutions developer EyeLock. 5/19/2014 04:30:00 PM Eastern
Hauppauge, N.Y. — Voxx International said Monday it has made a $3 million strategic investment in iris-based identity authentication solutions developer EyeLock.
The investment follows the recently announced strategic partnership for Voxx Electronics to leverage its distribution channels in North America and Europe to deliver EyeLock’s newest solution Myris.
The investment and distribution partnership will give consumer technology and enterprise markets broad access to directly purchase and use the new tool in the home or office.
Myris is described the world’s first USB-enabled iris identity authenticator offering a convenient and secure way to digitally authenticate an individual’s identity.
Myris is compatible with Windows 7 and 8, Mac OS and Chrome OS and uses EyeLock’s video-based iris authentication technology.
Myris is billed as an easy to use technology that, in less than a second, converts an individual’s iris characteristics to an encrypted code unique to the person and then matches the code to their eyes to grant access to his or her desktop, laptop or other devices and digital platforms.
The technology requires no lasers or invasion of privacy.
“This investment is in keeping with our stated goals for diversification in both product offerings and strategic partnerships as we look to grow our Company with new technologies and in new and emerging growth categories,” said Pat Lavelle, Voxx International president and CEO. “While iris authentication has been available to corporations and enterprises for years, no platform has been simple enough for consumers to use in everyday situations and Myris changes all of that. This investment, combined with our exclusive distribution agreement enables us to share in the biometrics category growth, and in theirs, and we are excited to partner with them to bring this game changing technology to market.”
Myris joins an extensive suite of logical and physical access control solutions offered by EyeLock and utilized by organizations across the education, financial services, government and retail sectors.
Over the past eight years, EyeLock has developed proprietary technology to change the way information and identities are protected in personal and business environments.
EyeLock is also a sponsor member of the Fast IDentity Online Alliance (FIDO), a non-profit organization dedicated to creating a safer and more secure digital presence for consumers.
“This new investment from one of the most well respected companies in consumer electronics will help propel EyeLock to the next level, benefiting consumers, businesses, and governments alike,” stated Jim Demitrieus, EyeLock CEO. “Voxx International has believed in this technology and our vision. Deepening our partnership with Voxx not only provides additional resources and greater flexibility for EyeLock to continue to innovate throughout the biometrics market, but offers more opportunities to collaborate with a great electronics brand with global reach, along with its partners and customers.”