[October 26, 2005] Digimarc Wins New $30 Million Texas Driver License Contract; New System Includes Latest Innovations in ID Security, New ID Card Architecture, and Thumbprint and Facial Verification Tweet BEAVERTON, Ore. --(Business Wire)-- Oct. 26, 2005 -- Digimarc Corporation (NASDAQ: DMRC) today announced further details regarding the Texas Department of Public Safety (DPS) driver license contract awarded to the Company earlier this month. The Texas DPS has selected Digimarc in a competitive procurement to design and produce a new highly secure driver license, and improve issuance security with facial and thumbprint verification, under a new five-year contract valued at nearly $30 million. The new Texas driver license is built upon Digimarc's innovative, highly secure and durable ExianEvident(TM) card architecture, a revolutionary advance in counterfeit- and tamper-proof card construction. The driver license will be produced in Digimarc's Texas central issue factory, using best practices for secure issuance. The system also includes implementation of facial verification and thumbprint matching, via the Digimarc Identity Validation Suite (IDVS), to screen for fraud in both new issuance and renewals. To meet the State's stringent security requirements, the new license includes numerous new layered security features. "Our goal in upgrading our driver license is to establish one of the nation's most durable and secure identity documents," said Judy E. Brown, Chief of the Driver License Division, Texas Department of Public Safety. The selected solution includes a leading approach to security, delivery of verification systems to screen for fraud, and reliable and secure image collection. "We are pleased that Texas recognized Digimarc's superior product and service offerings in this competitive procurement process," said Robert Eckel, president of government programs, Digimarc. "With the innovations in ID security represented within this contract, we believe Texas is establishing a showcase identification system." The five-year contract is anticipated to begin in the summer of 2007 with revenue recognized on a price-per-card basis. As part of the contract, Digimarc is scheduled to deliver certain aspects of the system in 2006 and early 2007. Among the enhancements included in the new contract are: -- The addition of numerous state-of-the-art security features to the Texas driver license; -- The transition of the Texas license to Digimarc's ExianEvident(TM) card architecture, a revolutionary advance in counterfeit- and tamper-proof card construction; -- The adoption of facial and thumbprint verification in the Digimarc Identity Validation Suite (IDVS), to detect applicants who are attempting to fraudulently receive a duplicate driver license or a license under a stolen identity; and -- A new networked image and data collection system designed to process applicants and support the State's goal to establish a multifaceted secure identification solution. 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 20 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 200 issued U.S. patents with more than 4,000 claims, and more than 400 pending 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 www.digimarc.com for more company information. 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 the successful implementation of the new contract between Digimarc and the Texas Department of Public Safety, as well as 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-Q for the quarterly period ended June 30, 2005, in Part I, Item 2 thereof ("Management's Discussion and Analysis of Financial Condition and Results of Operations") under the caption "Risk Factors." 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. [ Back To TMCnet.com's Homepage ]