IDesia to develop product for Aladdin

IDesia is developing a biometric verification solution for end devices.

Caesarea-based start-up IDesia Ltd. has signed a $1 million contract with Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN; TASE: ALDN) to develop the first product based on IDesia’s technology.

IDesia chairman and CEO Baruch Levanon, CTO Dr. Daniel Lange, and VP business development Yosef Gross founded the company in 2004. It has 12 employees. In January, it raised $2.5 million, bringing the total amount raised to date to $4.25 million.

IDesia is developing a biometric verification solution for end devices, such as mobile computers, smart phones, and credit cards, as well for the homeland security market. The company aims to develop preferred cost-effective solution. The biometric verification market was estimated at $1.6 billion in 2006.

IDesia has also hired Jacob Perry as special advisor. Perry is chairman of Mizrahi Tefahot Bank, and was previously CEO of Cellcom and head of the General Security Services.

Published by Globes [online], Israel business news - - on February 21, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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