Smart&Secure Deployed in Latin America
15 October 2009
In summary:
• Smart&Secure deployed in Brazil, Colombia and Uruguay
• Strong signs of adoption in other Latin America countries
• Security such as Smart&Secure vital for robust AVI systems
MIKOH Corporation Limited today reported on progress being made by its technology and channel partner, Sirit Inc., in the Automated Vehicle Identification (“AVI”) market of Latin America, and on the increasing adoption of MIKOH’s Smart&Secure RFID tag security technology in this market. Smart&Secure has been integrated into recently announced electronic toll collection systems being deployed by Sirit in Brazil, Colombia and Uruguay.
Sirit reported last month that progress has also been achieved in other countries across Latin America, and they are actively working at converting these opportunities into new revenue channels.
As countries upgrade their legacy systems throughout South America, governments are specifying destruct-on-removal for their tolling and registration labels, effectively mandating a requirement for Smart&Secure. Enabling seamless migration from current legacy systems to new state-of-the-art high-security AVI systems promotes increased adoption of electronic tolling and provides incremental revenue flow to governments in Latin America.
In October 2008 MIKOH entered a three-year agreement that licensed Sirit to exclusively promote and sell MIKOH’s patented tamper-indication Smart&Secure technology worldwide in AVI systems where physically secure vehicle tags are required. In return, MIKOH is paid a sliding-scale royalty based on volume. Revenues from this arrangement have begun to flow to MIKOH this year with the incorporation of MIKOH’s Smart&Secure into Sirit’s tag manufacturing lines at the end of 2008 for 2009 production.
“MIKOH’s Smart&Secure is a powerful tool in the prevention of fraud, identity theft, and sabotage of government implemented AVI systems” said Matt Blomfield, Managing Director of MIKOH. “More and more we are seeing governments mandating ‘destructon-removal’ or ‘DoR’ in their tender documents to protect the value and integrity of AVI systems. We expect to see Smart&Secure increasingly adopted as governments around the world move into AVI and Electronic Vehicle Registration (EVR) - both to ensure the expected return on investment and to protect and reassure the general public, who will be using the technology.”
About Sirit Inc.:
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification (“RFID”)
technology worldwide. Harnessing the power of Sirit’s enabling-RFID technology,
customers are able to more rapidly bring high quality RFID solutions to the market with
reduced initial engineering costs. Sirit’s products are built on more than 16 years of RF
domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and
are compliant with global standards. For more information, visit www.sirit.com.
About MIKOH: MIKOH Corporation Limited is a leading provider of physical security and digital marking solutions and consulting services. The company works with customers to design and implement physical security solutions to track, seal and/or monitor valuable assets. Both RFID and non-RFID in nature, MIKOH solutions align proper business processes and labeling technologies to ensure assets are effectively managed with certainty.
MIKOH’s Smart&Secure tamper-evident technology provides physical security certainty for RFID tags. Physical security for RFID is vital in applications where the compromise< of sensitive assets results in commercial and/or revenue loss. These applications include government asset tracking, vehicle identification, pharmaceutical distribution and more.Smart&Secure is flexible, scalable and easily integrates into any RFID system.
MIKOH has offices in Melbourne and Sydney in Australia, and McLean, VA and New York, NY in the USA. For more information, visit the company’s website at http://www.MIKOH.com.