JUNE 29--Security Biometrics Inc. (Vancouver, BC, Canada; www.sigbio.com has signed an agreement to acquire 100% of NetFace LLC for 20 million Security Biometrics Inc. common shares. NetFace holds the exclusive option to license DSI Datotech Inc. Gesture Recognition Technology (GRT) for video gaming and Internet/Interactive TV markets. Through its exercise of this license, NetFace has the first 'right of refusal' on the development of other GRT horizontal markets.
"This agreement with NetFace allows Security Biometrics to concentrate on the synergies of marketing and distributing biometrically enabled GRT to the global marketplace," stated Wayne Taylor, CFO of Security Biometrics. The signing of this agreement affirms both Security Biometrics' and NetFace's confidence in the expected demand for DSI Datotech gesture technology products."