Viisage Names Mohamed Lazzouni as Chief Technology Officer; Technology Veteran's Role to Guide Company's Technology Vision for Next Generation of Identity Solutions.Business Editors/High-Tech Writers LITTLETON, Mass.--(BUSINESS WIRE)--Feb. 3, 2004 Viisage (Nasdaq: VISG VISG Visually Impaired Support Group ), a leading provider of advanced technology identity solutions, today announced that Dr. Mohamed Lazzouni, the company's vice president of engineering since 2002, has been named chief technology officer in addition to his engineering leadership role. Dr. Lazzouni will oversee the company's technical direction as it continues to evolve its industry-leading identity solutions. Lazzouni's appointment comes at an important time in Viisage's history as the company last month finalized the closure of its acquisition of German-based ZN Vision Technologies AG, the European leader in face recognition technology. The merging of the two technologies is underway and is expected to provide a more powerful platform for Dr. Lazzouni to leverage his vision for the Company's next generation of identity solutions. "Mohamed has been at the heart of our product development for the past eighteen months and this appointment acknowledges the leadership he has shown," said Bernard Bailey, Viisage president and 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. . "Viisage is leading the industry in next-generation identity solutions and Mohamed's technical background in physics, secure document technologies, and internet applications is a great complement to Viisage's core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Dr. Lazzouni holds a Masters in physics from the University of London For most practical purposes, ranging from admission of students to negotiating funding from the government, the 19 constituent colleges are treated as individual universities. Within the university federation they are known as Recognised Bodies , England and a Ph.D. in physics from Oxford University, England. Through his professional work in science and business, Dr. Lazzouni's diverse achievements include patents in synthesizing infrared material, and using steganography and invisible inks to encode (1) To assign a code to represent data, such as a parts code. Contrast with decode. (2) To convert from one format or signal to another. See codec and D/A converter. (3) The term is sometimes erroneously used for "encrypt. spatial information for document security. In addition, he has developed numerous innovations in software architecture design for large-scale enterprise e-business systems and thin-client communications for real-time Internet application distribution and streaming. Throughout his work Dr. Lazzouni has mentored scores of young entrepreneurs. A visionary, business leader and entrepreneur, Dr. Lazzouni joined Viisage in 2002 after serving as CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. and co-founder of Intelligent ID Devices, Inc. Prior to that, he co-founded and served as CEO of Irision Solutions Corp. after serving in the same capacity at SIA Sia (sī`ə) or Siaha (sī`əhə), in the Bible, family returned from the Exile. SIA - Serial Interface Adaptor Technology Corporation. Dr. Lazzouni has held technology leadership positions at Nexaweb and EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. and has consulted with a number of companies over the course of nearly 16 years. Commenting on his new position, Dr. Mohamed Lazzouni said, "Identity has become an organizing principle in our world. Whether in law enforcement, border security, business or personal transactions, we use our identity to gain access to information and privileges. Viisage is at the forefront of the identity solutions market. To address the needs of organizations and individuals, identity solutions will need to incorporate several technologies including biometrics, credentialing technologies, and digital technologies. I am very excited to have been selected to lead Viisage in these technological initiatives, which are expected to deliver the most robust advanced technology identity solutions in the market." More information about Dr. Mohamed Lazzouni can be found at the Viisage website www.viisage.com. About Viisage Viisage (NASDAQ: VISG) delivers advanced technology identity solutions for governments, law enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). and businesses concerned with enhancing security, reducing identity theft, providing access control, and protecting personal privacy. Viisage creates solutions using secure document and face recognition technologies that quickly, reliably, and accurately identify individuals. With over 2,000 installations worldwide, Viisage's identity solutions stand out as a result of the Company's industry-leading technology and unique understanding of customer needs. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Forward-looking statements in this document and those made from time to time by the Company through its senior management are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements concerning future plans or results are necessarily only estimates and actual results could differ materially from expectations. Certain factors that could cause or contribute to such differences include, among other things, changing interpretations of generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting , outcomes of government reviews, potential fluctuations in quarterly results, the size and timing of award and performance on contracts, dependence on large contracts and a limited number of customers, lengthy sales and implementation cycles, availability and cost of key components, market acceptance of new or enhanced products and services, proprietary technology and changing competitive conditions, system performance, management of growth, dependence on key personnel, ability to complete proposed transactions, ability to obtain project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. , general economic and political conditions and other factors affecting spending by customers, the unpredictable nature of working with government agencies and other risks, uncertainties and factors including those described from time to time in the company's filings with the Securities and Exchange Commission, including without limitation, the company's Form 10K for the year ending December 31, 2002 and its quarterly reports on Form 10Q. The Company undertakes no obligation to update any forward-looking statements. |
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