[May 26, 2004] Aladdin Invests $1 Million in C-Signature - A New Innovative Biometric Authentication Company Aladdin Knowledge Systems, Ltd. (Nasdaq: ALDN) announced a $1 million investment in C-Signature, a new biometric company creating innovative authentication and identity management technology. Through this strategic investment Aladdin gains 19.9 percent equity in C-Signature and a license to sell products based on C-Signature technology. The investment builds on the capabilities of Aladdin's existing eToken authentication solution, an award-winning USB smart card authentication device. Products based on the new technology are expected to be released in 2005. "Aladdin believes that biometrics will play an increasingly instrumental role in numerous security applications," said Yanki Margalit, CEO of Aladdin Knowledge Systems. "Biometrics, smartcards and One-Time-Password tokens will undoubtedly continue to grow and serve diverse market needs for identity management. This investment provides Aladdin innovative new technology to compliment our core long-term strategy for growth and reaffirms our optimism for the authentication and identity management market opportunity worldwide." According to the International Biometrics Group, the biometrics industry's leading independent integration and consulting firm, biometrics currently stand as a $1.47 billion market and is expected to reach more than $4 billion by 2007. [ Back To TMCnet.com's Homepage ]