Signs New Deal for ePassport Technology
Perth, Nov 6, 2015 AEST (ABN Newswire) - Brand protection solution company YPB Group Limited (
ASX:YPB) has been contracted to provide its proprietary VariSec technology to a significant Southern African country. The news comes after YPB was recently contracted by a major first world economy to supply the proprietary VariSec technology for application in 15 million ePassports.
This new order substantially increases YPB's penetration into the world of securing ePassports globally.
This technology was developed by YPB's recently acquired subsidiary Intellectual Product Protection (IPP) and receipt of the order is seen as a further validation of the purchase of this business.
The VariSec technology is a trade secret that is now owned by YPB and can be customised or individualised to suit different government's uses and specifications.
International Civil Aviation Organisation's (ICAO) Technical Advisory Group on machine-readable travel documents (MRTD) published an information paper in January 2013 on ePassports worldwide disclosing that:
- 101 states and economies issue ePassports;
- An estimated 489,522,100 ePassports have been issued worldwide;
- An estimated 483,929,100 ePassports are in circulation;
YPB CEO and Executive Chairman John Houston commented: "We are building momentum in government document security as evidenced by these orders in recent weeks. As previously stated this is an excellent opportunity for YPB to gain increased exposure to government agencies for our entire suite of anti-counterfeiting solutions. We are continuing to develop products that will assist governments and businesses and these recent deals for VariSec are a great advertisement for us that should lead to wider acceptance of our solutions."
YPB provides a comprehensive suite of solutions to PROTECT products, DETECT counterfeits and CONNECT consumers with the brand owners.
To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-YPB-890080.pdf
About YPB Group Ltd
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