OPTIDtech Provides A
Boston, MA - August 25, 2000
GenuOne, the leading provider of comprehensive brand protection
solutions, today announced its investment in OPTIDtech, an emerging
global provider of optical solutions for contactless, automatic
identification.
OPTIDtech's innovative core technology enables hands-free,
non-invasive, remote operation for automatic identification of moving
and stationary objects - indoors and outdoors - over a wide range of
environmental conditions. It does not require any active-user contact.
OPTIDtech�s first product is a Contactless Access Control System named
CONACS. It provides control of fast-flowing traffic and also offers the
option of operating covertly.
"OPTID is a strategic investment for GenuOne," said Jeffrey
Unger, CEO of GenuOne. "It enables us to integrate the most advanced
thinking in optical technology into our portfolio of Brandsecure™
solutions that include measures for authentication, tracking and
control. Our partnership with OPTID will provide advanced,
results-driven solutions for the brand erosion, counterfeiting and
diversion issues facing major global brands in today�s commercial
marketplace."
OPTIDtech was founded by Mr. Avishai Drori and Professor
Naftali Eisenberg with the assistance of J.C. Technologies, a known VC
in Israel, and its incubator, PATIR R&D.
Mr. Drori is a physicist with 20 years of research/development
management, marketing and business development experience in the
Israeli defence industry. Prof. Eisenberg heads the Center for
Non-Conventional Optics at J. C. Technologies. Since its inception,
OPTIDtech has invested its resources in R&D, technology refinement,
market surveys and strategic co-operation agreements.
The demand for smart automatic identification capabilities on
commercial goods is rapidly growing," said Drori, CEO of OPTIDtech. "We
are excited about our relationship with GenuOne. Our leading-edge
technology provides an additional advanced capability for GenuOne's
Brandsecure solutions portfolio. And GenuOne�s investment in OPTID
demonstrates its commitment to developing companies and technologies
devoted to brand protection."
About GenuOne
GenuOne is an innovative provider of
comprehensive brand security solutions, offering a fully integrated
approach to intellectual property protection. Its technology and
integration services maximize brand dominance and minimize
counterfeiting, product diversion, licensing/royalty fraud and
intellectual property theft in the physical world and on the Internet.
GenuOne's authentication, tracking and control technologies combined
with its integration services allow companies to monitor products
throughout the supply chain cycle, from the initial manufacturing
process to the retailers' shelves, as well as on the Internet. GenuOne
has developed strategic, Brandsecure™ solutions for companies including
New Balance Athletic Shoe, Titleist and Footjoy Worldwide and Xerox
Corporation. Its solutions have empowered these companies to protect
the integrity of their brands. Visit the GenuOne website at www.genuone.com.
About OPTIDtech
OPTIDtech's innovative core technology does not require active-user
contact, enabling "hands-free" and non-invasive, remote operation for
Automatic identification of moving and stationary objects - indoors and
outdoors - over a wide range of environmental conditions. OPTIDtech's
solution is highly secure and functions over distances of 5-15 meters,
affording high performance at a low cost, while using safer technology
than current RF- or laser radiation based systems. OPTIDtech's
modularly designed Automatic identification systems meet a variety of
ID standards and can be seamlessly integrated into a wide range of
Automatic identification, access control, and brand-name security
systems. OPTIDtech's first product, the Contactless Access Control
System (CONACS), provides all the benefits of the new technology for
the control of fast-flowing traffic and offers the option of hidden
operation.
This press release contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from those
anticipated. The Company assumes no obligation to update the
information contained in this press release.
