Aether Systems Invests $5.6 Million in VeriStar, Pioneer in Biometric Verification for Cardless, Paperless Electronic Payment Applications.Business Editors/Hi-Tech Writers OWINGS MILLS, Md.--(BUSINESS WIRE)--July 26, 2000 Catalina Marketing Also Invests $1 Million in Technology and Patent-Rich Firm Aether aether: see ether, in physics and astronomy. Aether god of whole atmosphere. [Gk. Myth.: Jobes, 42] See : Air Systems, Inc. (Nasdaq:AETH), a leading provider of wireless data products and services, announced today that the company has completed a $5.6 million strategic investment in VeriStar Corp. In addition, Catalina Marketing Corp. (NYSE NYSE See: New York Stock Exchange :POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ), a St. Petersburg, Fla. company specializing in strategic targeted marketing solutions for supermarket retailers and consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and companies, has made a $1 million strategic investment in VeriStar. Based in Berkeley, Calif., VeriStar holds extensive patents on biometric bi·o·met·rics n. (used with a sing. verb) The statistical study of biological phenomena. bi technology applications and processes. The firm has developed a proprietary service enabling consumers to make payments without cash, checks or cards by using their pre-registered biometrics The biological identification of a person. Examples are face, iris and retinal patterns, hand geometry and voice. Increasingly built into laptop computers, fingerprint readers have become popular as a secure method for identification. (finger images, voice prints, etc.) that link them to their personal financial data. VeriStar, formerly known as SmartTouch, Inc., has strategic business alliances with both Aether and Catalina Marketing. Aether's $5.6 million investment gives the company a 20 percent stake in VeriStar. Management of both Aether and Catalina Marketing consider VeriStar an attractive investment due to its extensive library of technology and process patents, and its biometrically-enabled electronic payment service, which holds the potential to change the way consumers pay for everyday goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . In the initial roll-out, VeriStar will focus its technology and programs on multi-lane retail applications, such as supermarkets and chain stores. The US supermarket industry alone experiences over 18 billion transactions per year. The service will be found at the checkout counter, allowing consumers to pay simply by touching their finger to a scanner (1) See also antivirus program. (2) An optical device that reads a printed page or transparency and converts it into a graphics image for the computer. The scanner does not recognize or differentiate in any manner the content of the material it is scanning. or a screen. In the emerging m-commerce (mobile commerce) arena, VeriStar will enable consumers to verify their identity for a transaction via wireless phone by speaking to a voice prompt A recorded message that is played by auto attendants, interactive voice response (IVR) systems, message-on-hold systems and other voice processing tools. The "prompt" is a request to input some data; a recording that does not ask for feedback is more properly called a voice "message." linking them to their accounts, then using their unique biometric voice print to complete the transaction. "This investment by Aether enables us to deploy our biometric service in a completely different and exciting realm of applications in the wireless space," said VeriStar CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Phil Gioia. "We're very happy to be working with Aether and its partners to provide a unique suite of biometrically-enabled wireless-commerce transaction applications. Our alliance with Catalina, dominant in its market, has already proven to be of great benefit in leveraging our exposure to the U.S. supermarket and other multi-lane retail sectors." At the core of VeriStar's service is a database containing each registered consumer's "biometric ID," (finger image, or voice print, or other format), as well as their personal financial information, such as checking, credit or debit A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit. account data. VeriStar's service will allow consumers to make purchases via wireless devices, at retail locations, or on the Internet, simply by touching a finger to a scanner or a screen, or speaking to confirm their identity. "In order for mobile commerce to succeed, consumers must feel certain that their transactions are confidential and secure," said Rod Stambaugh, General Manager of Aether Systems' wireless commerce division. "Aether believes that VeriStar's biometric technology is the best available and will provide an important piece of the m-commerce puzzle. We made this investment not only to help VeriStar grow, but to work with the company to define industry standards for mobile commerce." Gioia added, "VeriStar's unique service is fully voluntary, free to the consumer, and protected by multiple layers of encryption The reversible transformation of data from the original (the plaintext) to a difficult-to-interpret format (the ciphertext) as a mechanism for protecting its confidentiality, integrity and sometimes its authenticity. Encryption uses an encryption algorithm and one or more encryption keys. and security. We believe the day has come when consumers should finally be given the full convenience, security and choices they deserve." About Aether Systems, Inc. Aether Systems, Inc. is a leading provider of wireless and mobile data products and services allowing real-time communications and transactions across a full range of devices and networks. Using its engineering expertise, the ScoutWare(TM) family of products, the Aether Intelligent Messaging An earlier messaging system from Banyan Systems that ran on NetWare and VINES servers and incorporated Banyan's popular Streettalk directory service. It included a basic mail program, which could be upgraded to the more advanced BeyondMail system. See ePresence. (AIM) software platform, and its network operations and customer care center, Aether seeks to provide comprehensive, technology-independent wireless and mobile computing Using a computing device while in transit. Mobile computing implies wireless transmission, but wireless transmission does not necessarily imply mobile computing. Fixed wireless applications use satellites, radio systems and lasers to transmit between permanent objects such as buildings solutions. Aether develops and delivers wireless data services across a variety of industries and market segments in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and internationally. For more information, please visit www.aethersystems.com. About VeriStar Corporation Based in Berkeley, CA VeriStar is a biometric and electronic payment technology firm that has developed a proprietary payment service for retail point of sale, over wireless and on the Internet. The VeriStar service enables consumers to perform electronic payments without using cash, plastic cards, paper checks or other devices. The systems, service and concepts developed by VeriStar are protected by multiple U.S. patents, with filings in all major foreign venues. VeriStar is building strategic alliances with major participants in all facets of the electronic payments sector. For more information, please visit www.veristarcorp.com. About Catalina Marketing Corp. Based in St. Petersburg, Fla., Catalina Marketing Corporation (http://www.catmktg.com) provides a wide range of strategic targeted marketing solutions for consumer goods companies and retailers. The targeted marketing services of the company are provided by interrelated in·ter·re·late tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates To place in or come into mutual relationship. in operating groups that strive to influence purchase behavior of consumers wherever and whenever they make purchase decisions. Through these operating groups, Catalina Marketing Corporation is able to reach consumers internationally and domestically -- in-store, using incentives, loyalty programs, sampling and advertising messages; at-home, through direct mailings; and online. Personally-identifiable data that may be collected from the company's targeted marketing programs, as well as its research programs, will not be sold or given to any outside party without the express permission of the consumer. |
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