Security Sales July 2021 - 14

ACCESS
ENTRY/EXIT
IDENTIFICATION LOCKS
HID Global Invests in Facial
Recognition Specialist
▶ AUSTIN, Texas - HID Global has
invested in Paravision, a leading provider
of advanced facial recognition solutions.
The company's investment is part of a
$23 million funding round for Paravision,
according to an announcement.
The investment aligns with HID Global's
strategic direction to embed facial recognition
into solutions for a seamless and
highly secure user experience in a variety
of identity verification and authentication
applications, including access control,
according to the company.
" In partnership, HID and Paravision
have already cooperated on projects and
we look forward to further advancing our
collaboration across a number of different
markets and use cases, " says Björn
Lidefelt, executive vice president and
head of HID Global.
The strategic investment is said to accelerate
the development of HID's biometric
solutions that leverage facial recognition
algorithms that Paravision has
proven through many successful deployments
with high-profile customers.
" We are excited to receive this financial
investment from HID Global and to embark
on mutual growth opportunities, "
says Doug Aley, CEO of Paravision. " We
look forward to working together in pursuit
of new business, channel, sales and
market opportunities. "
Paravision's computer vision software is
utilized globally by security device manufacturers,
solution providers, systems
IMRON Selects STid Architect as
Preferred Mobile Credential Reader
▶ IRVINE, Calif. - STid announces its Architect product has been
chosen as IMRON's preferred mobile credential reader. STid Architect,
billed as the industry's first modular-based access reader,
has been fully integrated into IMRON's Cloud-based UnityIS, resulting
in a combined hardware and software security solution.
STid says it created the first module range of secure RFID, NFC
(HCE) and Bluetooth readers. The Architect readers are based on
an intelligent RFID core (Bluetooth optional) with six interchangeable
module options including card reader, keypad, touchscreen,
biometric fingerprint sensor, QR code and 125kHz options.
The modular concept provides the ability to upgrade features
and security levels easily, according to the company. STid was
the first RFID manufacturer to receive First Level Security Certification
(CSPN) and offer GDPR-compliant access solutions. The
readers are fully compatible with the SIA Open Supervised Device
Protocol (OSDP), as well as high security certified for global
companies with offices in Europe and the U.S. The patented,
tamper-resistant system protects sensitive data and allows the
deletion of authentication keys.
Architect readers use the latest MIFARE DESFire EV2 contactless
chips with new data security mechanisms for secure transactions
based on AES-128 and enhanced protection against relay
attacks. The Architect Blue range uses EAL5+ certified crypto processor
to encrypt data.
14
Security Sales & Integration JULY 2021
integrators and financial services firms to
deliver frictionless experiences and comprehensive
safety and security.
The company says it is the only American
company to rank in the top 10 in more than
50 accuracy benchmarks across the 1:1 and
1:N NIST Face Recognition Vendor Tests,
including top-three global performance on
many demanding at-scale requirements.
Latch Completes Acquisition, Begins Trading
on Nasdaq
▶ NEW YORK - Latch, maker of the full-building enterprise
software-as-a-service (SaaS) platform LatchOS, has completed
its acquisition by TS Innovation Acquisitions (TSIA) and has
become a publicly listed company. TSIA is a special purpose
acquisition company (SPAC) launched by global real estate developer
and investment manager Tishman Speyer Properties.
Latch's common stock and warrants are trading on the Nasdaq
Global Select Market under the ticker symbols " LTCH " and
" LTCHW, " respectively.
" As a public company, we expect to have the capital and strategic
resources to deliver new products, grow our market share in
North America, enter new markets abroad and expand into new
verticals that will benefit from our unique, full-building operating
system, " says Luke Schoenfelder, Latch co-founder, CEO and
chairman of the board of directors.
In connection with the transaction, Latch has received approximately
$453 million in cash proceeds, net of fees and expenses
funded in conjunction with the closing of the business
combination, which includes $190 million from a previously announced
private placement of common stock. The proceeds will
be used to fund initiatives to drive growth, such as growing the
number of units on its platform, expanding offerings to additional
asset classes and spreading to new geographies, according to
the announcement.
securitysales.com
The strategic investment is said to
accelerate the development of HID's
biometric solutions that leverage facial
recognition algorithms.
FRACTAL PICTURES/STOCK.ADOBE.COM
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Security Sales July 2021

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