SAN FRANCISCO and LAGUNA, Philippines, November 4 /PRNewswire/ --
Validus Technologies Corporation and Integrated Microelectronics, Inc. are pleased to announce a strategic manufacturing alliance serving the global powered card industry.
Validus and IMI today announced that they have entered into a comprehensive manufacturing agreement to serve the powered card industry. The first powered card product version, of many to come, designed by Validus and manufactured by IMI is the VALIDcard(TM). The VALIDcard(TM) is the world's first powered card offering fully self-contained biometric authentication within a card form factor.
The VALIDcard(TM) is positioned as the dominant powered card product targeting many market sectors which include, but are not limited to, e-commerce (cardholder-not-present transactions), online banking, health care, physical and logical access, border control, government and civilian identification, airport security, online brokerages and IT security.
With identity theft doubling each year, in all forms, the VALIDcard(TM) provides the most advanced in ultra-portable biometric authentication to mitigate identity theft, credit card fraud and abuse worldwide. Validus is in the unique position that it owns issued patents that cover a wide range of product offerings in the powered card industry; the main powered card offerings covered are biometric, PIN entry and push button authentication with OTP communication via display, Smart Card or RFID.
Validus chose IMI as its manufacturing partner due to their excellence in engineering, global manufacturing operations and key patents relating to advanced electronics assembly, said Travis McGregor, CEO of Validus.
Validus and IMI are producing V2.0 BETA VALIDcard(TM)s, which will be released to leading BETA customers in many market sectors within weeks.
It is a privilege for IMI to partner with Validus on this pioneering product. Validus' expertise in biometric OTP display cards enables IMI to contribute to making transactions of end-users more secure, said Arthur Tan, president and CEO of IMI.
About Validus Technologies Corporation
Validus designs, engineers, develops, manufactures, and markets the patented, self-contained, biometric OTP (one time password) display card named VALIDcard(TM), a strong multifactor authentication device designed to prevent identity theft while offering a user friendly experience and seamless infrastructure integration. Validus' technology, intellectual property research, and development began in the late 1990s with a small team that expanded significantly in 2004. Validus was incorporated in November 2004, to serve the global demand for solutions to combat identity theft and increase security. Validus' issued patents provide Validus with the exclusive right to integrate leading edge components and manufacturing capabilities. The VALIDcard(TM) solution is a proven technology and advanced card manufacturing is being scaled to high volume to meet market demand.
About Integrated Microelectronics, Inc.
Integrated Microelectronics, Inc. (IMI) is a vertically integrated electronics manufacturing services (EMS) provider to leading global original equipment manufacturers (OEMs) in the computing, communications, automotive, industrial, and medical electronics markets. It has transformed its operations in the Philippines into a worldwide network that includes a subsidiary (Speedy-Tech Electronics Ltd.) with manufacturing plants and design centers in China and Singapore; an advanced manufacturing engineering and new product introduction center in the United States; and design teams based in Japan and Europe. IMI's capabilities allow it to take on the specific outsourcing needs of its customers, providing them with flexible solutions that encompass design, manufacturing, and order fulfillment. IMI ranks 27th in the list of top 50 EMS companies of Manufacturing Market Insider. It is also a recipient of the 2007 Service Excellence Award for highest overall customer rating from Circuits Assembly.
Safe Harbor Statement
Statements in this news release that relate to future plans, financial results, projections and events of performance are forward-looking statements. While these statements are made to convey to the public the parties progress, business opportunities and growth prospects readers are cautioned that such forward-looking statements represent the parties current understanding and beliefs. Unforeseen factors may affect the parties' actual results and could cause results to differ materially from the forward-looking statements.
Greg McGregor of Validus Technologies Corporation, +1-415-975-9815, ext. 701, firstname.lastname@example.org; or Fred Blancas of Integrated Microelectronics, Inc., +63-49-5440314, Frederick.Blancas@ph.global-imi.com; Photo: http://www.newscom.com/cgi-bin/prnh/20081104/AQTU067LOGO