Imageware Embarks Upon Strategic Review, With Imperial Capital as Advisor

“Imageware has enhanced its core biometric engine, rebuilt its enterprise multi-factor authentication (MFA) product and revamped its original law enforcement platform.” – Kristin Taylor, CEO, Imageware

Imageware has retained the services of investment bank Imperial Capital to conduct “a review of available strategic alternatives to maximize shareholder value”, the company has announced.

In a statement, ImageWare CEO Kristin Taylor framed the move in the context of the biometric authentication specialist’s “comprehensive transformation process,” which got underway when Taylor was appointed chief executive in early 2020. Since then, she and the rest of the company’s leadership have taken dramatic measures to transform the business, including high-level executive hires, the creation of a new advisory board, and the launch of ImageWare Authenticate, a rebrand of its flagship enterprise security platform.

In its announcement, ImageWare did not go into detail about what the strategic review might entail; but Taylor highlighted intrinsic value with respect to its biometric technology and offerings.

“Imageware has enhanced its core biometric engine, rebuilt its enterprise multi-factor authentication (MFA) product and revamped its original law enforcement platform,” she said. “These initiatives have been major builds, performed by a talented team of engineers and supporting staff. We also continue to be one the most cited companies in IP for biometrics, by the likes of some of the largest corporations in the world.”

The company’s statement went on to explain that its leadership do not plan to disclose further developments with respect to the strategic review “unless and until its Board of Directors has approved a specific transaction,” though the company’s Board may simply decide that further disclosure is appropriate at some point.

The strategic review is getting underway soon after ImageWare’s announcement that it had partnered with Gateway Investor Relations to develop an investor outreach and communications program. Gateway has previously provided such services for Aware, Inc., another biometric solutions provider.

The news also arrives after ImageWare’s Q1 update in early June, in which the company reported somewhat lower year-over-year revenues alongside a year-over-year improvement in its net result.

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August 16, 2021 – by Alex Perala