The new company focuses on iris recognition research, development and production and will take over all of the business activities including rights and obligations of existing business of the former LG Iris Technology Division.
The original LG Iris team will remain intact in the new business entity and Iris ID will expand its global organization and products
The IrisAccess platform has become one the most widely deployed iris recognition platforms in the world, according to company officials.
Michael Ahn, president and CEO of LG Electronics North America, said the spin-off makes sense given LG's current business priorities and the state of the identity authentication business today.
Ahn also noted that Iris ID Systems (News
) will be well-positioned for continued growth as a separate entity.
Calvin Azuri is a contributing editor for TMCnet. To read more of Calvin’s articles, please visit his columnist page.
Edited by Stefania Viscusi