NEW YORK, May 11, 2010 (GLOBE NEWSWIRE) -- TIE Technologies, Inc. (Pink Sheets:TTCS), an information technology, security and telecommunications company, delivering innovative solutions for the dynamic global IT, security, and communications markets, announced today TIE TeleMetric Inc.'s BIO Metrics and Intelligent Video research and development project focused on positive identification technologies.
The U.S. Department of Defense Enterprise Strategic Plan charts a focus on programs that develop "measurable physical and behavioral characteristics that enable the establishment and verification of an individual's identity." The great opportunity within the next generation of biometrics solutions is to open new technology horizons enabling national defense agencies to have positive identification of potentially hostile targets, while supplying commercial and government team members with anti-fraud and security breach protections.
As of last month, the U.S. Government has formed a national security agency called the Biometrics Identity Management Agency (BIMA), which leads the Department of Defense's activities to prioritize, integrate and synchronize biometrics technologies and capabilities and to manage the Department of Defense's authoritative biometrics database to support the national security strategy.
At the municipal level, the requirement for effective security and monitoring systems became a reality with the response to the recent New York City failed bomb incident. "Although traditional access control systems may effectively mitigate the threat to buildings from "outsiders," history has demonstrated the potential for "insider" exploitation of building vulnerabilities and sabotage" - New York City Police Department.
"Tie TeleMetrics' and several key strategic partners have launched this development project to evolve and integrate state of the art technologies in response to today's heightened critical need for comprehensive actionable intelligence", commented Edward Andercheck, Chairman and CEO of TIE Technologies, following recent events in NYC. "We are working to bring BIO Metric identity authentication technology, smart video recognition systems, and integrated networks together to generate key predictive data for security personnel in advance of potential events. Today's science has made it possible to identify and authenticate the "one of a kind" unique BIO Signature generated by individuals entering or leaving designated areas, thereby enabling the protection of buildings and weapon systems, and empowering security in large cities everywhere."
TIE TeleMetrics Corporation, a wholly owned subsidiary of TIE Technologies, will combine cutting edge security system technologies and a wide variety of wireless telecommunications solutions for the growing security and BIO Metrics markets. According to the Acuity Market Intelligence Group, the current market for biometrics alone has reached $2.5 billion and is expected to reach $11 billion by 2017, which represents a compound annual growth rate of 19.7%. TIE TeleMetrics technology solutions are focused on solving a broad spectrum of government and private sector contract requirements, frequently employing partner resources and reseller channels to achieve maximum market penetration of federal and municipal government and institutional contract opportunities.
ABOUT TIE TECHNOLOGIES, INC.
TIE Technologies is a technology driven systems integration and telecommunications Company. TIE's Smart Technology Solutions strive to provide better ways of doing things in every market it touches; from large logistical challenges, to small business needs and hand held iPhones. T IE Technologies is traded on Pink Sheets under the symbol "TTCS". For additional information please visit www.tietechnologies.com .
Safe Harbor Statement
The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projections and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.