Nevada Approves $29 Million Contract Extension with Digimarc for Highly Secure Driver License System
Beaverton, Ore. — Digimarc Corporation (NASDAQ: DMRC) today announced the Nevada Board of Examiners has approved a contract extension between the Nevada Department of Motor Vehicles (DMV) and Digimarc to enhance the security of Nevada's driver license issuance system. The contract, which extends the current contract from 2010 through 2017, is valued at approximately $29.2 million.
Digimarc will migrate the State's driver license production method from issuing licenses and ID cards in each branch office to secure production in a centralized manufacturing facility. In addition, Digimarc will deliver its Biometric Identification solution, which uses facial recognition technology to combat applicants attempting to obtain multiple driver licenses under different identities. This program is expected to significantly increase the security of the process Nevada uses to issue driver licenses to citizens and support the State as it prepares to comply with the REAL ID Act.
"We are pleased to be enhancing the security of our driver license system to protect Nevada citizens from driver license fraud and identity theft and position the State for REAL ID compliance," said Ginny Lewis, director, Nevada DMV. "Digimarc is a proven leader in centrally issued driver licenses and facial recognition technology, and we are pleased to upgrade our issuance system with these advanced solutions."
"Digimarc has a long-term, trusted relationship with Nevada, and we are delighted to have earned their continuing support with this extension," said Bob Eckel, president, ID Systems, Digimarc. "Our market-leading driver license issuance solutions are designed to help customers like Nevada significantly improve the security of their entire issuance system, including capturing the applicant's photo and information, verifying his/her identity, producing the driver license and ensuring the security of the card itself."
Among the enhancements included in the new contract are:
-15 advanced, market-leading driver license security features, including Digimarc® IDMarc™ digital watermarks for machine-validation, designed to thwart counterfeiting and fraud and enable cross-jurisdictional driver license authentication. Today, digital watermarks are contracted for use in more than 50% of U.S. driver licenses.
-Digimarc Biometric Identification — DMV staff will be able to compare a driver license applicant's photo against all other photos of licensed drivers in Nevada to determine whether the applicant is attempting to obtain a duplicate license under a false identity. Digimarc has successfully worked with several jurisdictions around the U.S., including Colorado, Kansas and Massachusetts, to stop hundreds of fraud attempts each year with Digimarc Biometric Identification solutions.
-Secure, centralized driver license production — Digimarc is the leader and industry expert in centralized driver license production in North America. The Company's central issuance facilities produce more than 23 million U.S. driver licenses annually for 13 States, including California, Washington, Texas and Massachusetts. More and more States are moving to or considering central issuance of driver licenses, particularly in light of the REAL ID Act requirements to strengthen driver license security.
About Digimarc
Digimarc Corporation (NASDAQ: DMRC), based in Beaverton, Oregon, is a leading supplier of secure identity and media management solutions. Digimarc provides products and services that enable the production of more than 60 million personal identification documents, including two-thirds of U.S. driver licenses and IDs for more than 25 countries. Digimarc's digital watermarking technology provides a persistent digital identity for various media content and is used to enhance the security of financial documents, identity documents and digital images, and support other media rights management applications.
Digimarc has an extensive intellectual property portfolio, with more than 350 issued U.S. patents with more than 7,500 claims, and more than 500 pending U.S. and foreign patent applications in digital watermarking, personal identification and related technologies. The Company is headquartered in Beaverton, Oregon, with other U.S. offices in Burlington, Massachusetts; Fort Wayne, Indiana; and the Washington DC area; and international offices in London and Mexico.
Please go to http://www.digimarc.com for more company information.
Press Contacts
Leslie Constans
Digimarc Public Relations
+1 503 469 4620
lconstans@digimarc.com
Delisa Davis
RH Strategic Communications for Digimarc
+1 202 585 0210
ddavis@rhstrategic.com
Securities Safe Harbor
With the exception of historical information contained in this release, the matters described herein contain certain "forward-looking statements" that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding anticipated performance and capabilities under the contract extension with the Nevada DMV, the estimated value of the Nevada contract extension, and other statements containing the words "believes," "expects," "estimates," "anticipates," "will" or words of similar import or statements of management's opinion. These statements are subject to certain assumptions, risks, uncertainties and changes in circumstances. Actual results may vary materially from those expressed or implied from the statements herein or from historical results, due to changes in economic, business, competitive, technological and/or regulatory factors. More detailed information about risk factors that may affect actual results is set forth in filings by Digimarc with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K, including but not limited to those described in the Company's Form 10-K for the year ended December 31, 2006, in Part II, Item 7 thereof ("Management's Discussion and Analysis of Financial Condition and Results of Operations") under the captions "Liquidity and Capital Resources" and "Factors Affecting Forward Looking Statements" and in Part II, Item 9A thereof ("Controls and Procedures"). Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date of this release. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements.
January 10, 2008
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