SHELTON, CT - October 29, 2013 (Investorideas.com biometrics/ defense stocks newswire) NXT-ID Inc. (
OTCQB: NXTD)
a biometrics company focused on the growing m-commerce market and its
wholly owned subsidiary, 3D-ID, LLC, today announced an agreement with
Indian/U.S.technology company, Voice of Big data (VOBD), to distribute
its patented 3D FaceMatch™ biometric facial recognition identification
systems in India.
3D FaceMatch™ will be added to Voice of Big data's current Facial
Signature product line as part of its security and intelligence
division. The technology will be targeted to retail markets, law
enforcement, airports, government agencies, public and private
organizations, product development centers and offshore development
centers.
Voice of Big data reported to fytimes.com in August that it will be
the first company in India to launch 3D facial recognition technology
in India.
It was recently chosen as one of the top 10 promising technology
startups in India by Nasscom's Emerge; (ET Times October 25th). The fast
growing company has 65 employees comprising 20 data scientists and
anticipates hiring 80 more by the end of the year.
Mr. Gino Pereira, Chief Executive Officer of NXT-ID, Inc., said,
"Clearly, this is another milestone in our history as we continue to
make solid progress as we implement our growth strategy. We are
delighted to be partnering with VOBD in such an exciting developing
market. India is at the forefront of the biometric revolution and with
our combined expertise in 3D facial recognition and the ability to
analyze large amounts of data very quickly I believe we can contribute
substantially to biometric adoption here."
Srinivas Kishan Anapu, CEO of VOBD, reiterated that "the
partnership with NXT-ID is a major strategic milestone for Voice of Big
Data in the R&D space and for implementation of facial recognition
solutions across industries globally. Additionally we see a huge value
addition to our customers especially in India."
3D FaceMatch™ facial imaging solutions provide government, law
enforcement and security agencies with fast, precise, automated and
low-cost solutions for biometrically-accurate imaging of human faces in
three dimensions. By acquiring the shape of a subject's face, together
with a perfectly registered image, FaceMatch technology enables dramatic
performance enhancements in human identification systems ranging from
manual photo ID verification to automated facial recognition.
The global facial recognition market is estimated to grow from
$1.92 billion in 2013 to $6.5 billion in 2018 according to a report
earlier this year from http://www.marketsandmarkets.com/. Analysts
forecast the biometrics market in India to cross USD 2 Billion revenues
by 2018.
About Voice of Big data (VOBD)
Voice of Big data (VOBD) has its offices spread across US, UK,
Australia and India. The company is incorporated with focus to provide
sustainable BI solutions to clients. We have a highly dedicated team
that constantly researches the trends in Bigdata, providing the most
optimized solutions to the clients in BI space. At VOBD, Over 70% of
Analytics is performed against Structured & Unstructured data. VOBD
has invested in focused groups around tools & frameworks to provide
client value-adds. This experience has helped VOBD build robust CoEs and
reusable Frameworks for its customers. VOBD currently comprises of a
Full time team of professionals from all domains and technologies
related to Big data, BI and Analytics. VOBD has expertise across BFS,
Insurance, Media, Manufacturing, Retail, Technology, Healthcare, Life
Sciences and Utilities domains.
http://voiceofbigdata.com
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s (OTCQB: NXTD) innovative MobileBio™ solution
mitigates consumer risks associated with mobile computing, m-commerce
and smart OS-enabled devices. The company is focused on the growing
m-commerce market, launching its innovative MobileBio™ suite of
biometric solutions that secure consumers' mobile platforms. NXT-ID'
wholly owned subsidiary, 3D-ID LLC, is engaged in biometric
identification has 22 licensed patents in the field of 3D facial
recognition
http://www.nxt-id.com/,
http://3d-id.net/
Forward-Looking Statements for NXT-ID
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements reflect management's current expectations, as
of the date of this press release, and involve certain risks and
uncertainties. Forward-looking statements include statements herein with
respect to the successful execution of the Company's business strategy.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of various
factors. Such risks and uncertainties include, among other things, our
ability to establish and maintain the proprietary nature of our
technology through the patent process, as well as our ability to
possibly license from others patents and patent applications necessary
to develop products; the availability of financing; the Company's
ability to implement its long range business plan for various
applications of its technology; the Company's ability to enter into
agreements with any necessary marketing and/or distribution partners;
the impact of competition, the obtaining and maintenance of any
necessary regulatory clearances applicable to applications of the
Company's technology; and management of growth and other risks and
uncertainties that may be detailed from time to time in the Company's
reports filed with the Securities and Exchange Commission.
Contact:
Corporate info:
info@nxt-id.com
Investor Relations
Kirin Smith
ProActive Capital Group
Direct: 646 863 6519
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