Telos Corporation has acquired the assets of Diamond Fortress Technologies (DFT), including all patents, and will integrate the ONYX® touchless fingerprinting software with Telos’ IDTrust360® platform.
The acquisition adds several new patents to Telos’ library of biometric and digital identity intellectual property. The addition of contactless biometrics technology will enable Telos to better serve the needs of organizations in existing and new markets, including transportation, healthcare and financial services. This acquisition solidifies Telos’ position in an expanding market, with contactless biometrics technology expected to grow from approximately $7 billion in 2019 at a CAGR of 20% from 2020 to 2027.
ONYX is a mobile, touchless biometrics solution that leverages a device’s camera to capture the user’s unique fingerprint. To maintain and expand the ONYX technology, Telos has hired seven current DFT employees, including the key patent holders and employees critical to the growth and expansion of this technology.
Terms of the transaction were not disclosed, and there is no change to Telos’ 2021 financial guidance as a result of the acquisition.
