spot_img
Saturday, January 28, 2023
spot_img

Garrigues counsels SALTO on Cognitec acquisition

Garrigues has helped SALTO Systems to acquire automated face recognition innovator COGNITEC Systems

-

Cognitec, a major and growing player in the Face Recognition arena, delivers via its proprietary technology, reliable identity, privacy, and security policy implementation. Investing in Cognitec allows SALTO to control the technology from its very origin, with a broad range of applications both for existing and future SALTO clients.

Cognitec, headquartered in Germany, has offices in Australia, Spain, and the US, including a large team of scientists and engineers dedicated to R&D at its German headquarters. Cognitec’s portfolio includes solutions for face image database search, recorded video investigation, real-time video screening and people analytics, border control, ICAO compliant photo capturing, and face image quality assessment. The company’s flagship FaceVACS algorithm has been continuously validated by NIST (National Institute for Standards & Technology) performance tests. Since its founding in 2002, Cognitec has partnered with government entities, law enforcement agencies, and commercial clients in more than 50 countries.

“Working with Cognitec gives SALTO the opportunity to integrate emerging biometrics, face recognition, and artificial intelligence technologies into our Group products and platforms to create new solutions and services that benefit all of our clients,” said SALTO Systems chief technology innovation officer Marc Handels.

“Cognitec’s technology is highly compatible and integrable across the SALTO product portfolio of access control, smart lockers, and booking and ticketing solutions. Incorporating applications like frictionless check-in and hands-free access into our applications will improve the SALTO customer experience whether it’s used in business, residential, or leisure and fitness,” said Handels.

Cognitec chief executive officer Alfredo Herrera said he welcomes the partnership that will benefit both companies and all customers.

“SALTO is a strong company and is globally well-positioned. Their expanding footprint offers us an incredible opportunity to reach the fastest-growing markets in face recognition and at the same time, expand our established business with our mature face recognition products,” said Herrera. “Since our founding, Cognitec has been the only company worldwide that has worked exclusively on face recognition technologies. Because we’re innovators, it makes sense for us to join with a partner like SALTO, a respected leader in the security industry.”

Garrigues´ team was led by Corporate/Commercial partner Carla Frangoni, along with principal associate Carlos Lasa.

- Advertisement -spot_img
- Advertisement -spot_img

MOST READ NEWS

Jones Day announces new Corporate leadership

As practice leaders, they will coordinate and oversee the firm's transactional work worldwide, including both the firm's M&A and Private Equity subpractices. These appointments,...

Linklaters advises on first high yield transaction in Europe in 2023

Tereos is a leading global agro-industrial cooperative specialising in the sourcing and processing of agricultural raw materials. The company is present in 127 countries...

Linklaters advises IVIRMA on its €3bn sale to KKR

The US fund has signed the acquisition of the Spanish company, a world leader in infertility treatments, eleven months after the transaction was announced,...
spot_img
spot_img
spot_img
spot_img
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -spot_img
error: