And the eyes have it--a $28 million investment
Article Abstract:
Sensar Inc (Moorestown, NJ) has received $28 million from such investors as Citibank, NCR, J.P. Morgan, and Lehman Brothers in a deal announced Nov 3, 1998. Sensar makes iris-scanning identification systems aimed at replacing bank PINs and picture IDs. Pres Tom Drury said the firm would use funds from the equity investment to test its system in banks in Japan, Germany, Brazil, Ireland, Spain, Malaysia, and Turkey in 1999. In Dec 1998, the first North American system will be installed. Citibank has been testing the system internally. The first financial institution to actually use the Sensar system is UK savings and loan Nationwide Building System. Sensar licenses its technology from IriScan Inc of New Jersey.
Comment:
Sensar Inc (Moorestown, NJ) receives $28 mil from a group of investors to develop its iris-scanning identification business
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Fleet wants refund from Advanta
Article Abstract:
Fleet Financial Group has filed suit in Delaware business court against Advanta Corp. whose credit card business it bought last year. Fleet alleges that Advanta owes it more than $126 million because of Advanta's "misappropriations, material misrepresentations and breaches of the [sale] contract." Advanta claims that Fleet failed to submit the dispute to arbitration as stipulated in the agreement.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1999
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