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Lumidigm Signs Strategic Agreement with Methode Electronics : Automotive Supplier Invests in Biometric Component Development
Date:8/6/2008

Lumidigm, Inc., the biometrics company enabling applications for the real world, has formalized a strategic business alliance with Methode Electronics, Inc. One of the many businesses that make up Methode includes being a solid Tier 1 automotive supplier focusing on technology-rich application-specific components and subsystem devices. Together, Methode and Lumidigm will bring patented biometric functionality to new markets, including transportation. The partnership includes equity financing and multiple joint development projects. Methode joins current Lumidigm strategic investors Intel Capital and Motorola Ventures.

ALBUQUERQUE, N.M. (Business Wire EON) August 6, 2008 -- "Lumidigm's technology and products have always attracted companies on the cutting edge of consumer product development," said Bob Harbour, Lumidigm President and CEO. "Methode understands the unique value of Lumidigm's biometric technology and how it can enhance the automotive customer's individual experience."

Lumidigm biometric sensors enable convenient, secure, and reliable identification and verification through the use of patented multispectral imaging technology. Already used worldwide in various identification management and security applications, Lumidigm sensors are now extending biometrics to consumer applications, such as convenience and security in the automobile.

It is this commercial potential that caught the attention of Donald W. Duda, President and Chief Executive Officer of Methode Electronics, Inc. "We believe Lumidigm's biometric sensors could be used to support potential vehicle features such as keyless entry, ignition authorization, authentication of in-vehicle transactions via telematics, as well as personalization of a vehicle's convenience characteristics," said Duda. "We've entered into this strategic business alliance with Lumidigm to pu
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Source: PRWeb
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