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Lumidigm Signs Strategic Agreement with Methode Electronics : Automotive Supplier Invests in Biometric Component Development

2008-08-06 02:00:00

Lumidigm Signs Strategic Agreement with Methode Electronics : Automotive Supplier Invests in Biometric Component Development

ALBUQUERQUE, N.M. (EMWNews) August 6, 2008 —

Lumidigm, Inc., the biometrics company enabling applications for the

real world, has formalized a strategic business alliance with Methode

Electronics, Inc. One of the many businesses that make up Methode

includes being a solid Tier 1 automotive supplier focusing on

technology-rich application-specific components and subsystem devices.

Together, Methode and Lumidigm

will bring patented biometric functionality to new markets, including

transportation. The partnership includes equity financing and multiple

joint development projects. Methode joins current Lumidigm strategic

investors Intel Capital and Motorola Ventures.

We’ve entered into this strategic business alliance with Lumidigm to pursue these and other potential biometric applications for the transportation industry

Lumidigms

technology and products have always attracted companies on the cutting

edge of consumer product development, said

Bob Harbour, Lumidigm President and CEO. Methode

understands the unique value of Lumidigms

biometric technology and how it can enhance the automotive customers

individual experience.

News Image

Lumidigm biometric sensors enable convenient, secure, and reliable

identification and verification through the use of patented

multispectral imaging technology. Already used worldwide in various

identification management and security applications, Lumidigm sensors

are now extending biometrics to consumer applications, such as

convenience and security in the automobile.

It is this commercial potential that caught the attention of Donald W.

Duda, President and Chief Executive Officer of Methode Electronics, Inc. We

believe Lumidigms biometric sensors could be

used to support potential vehicle features such as keyless entry,

ignition authorization, authentication of in-vehicle transactions via

telematics, as well as personalization of a vehicles

convenience characteristics, said Duda. Weve

entered into this strategic business alliance with Lumidigm to pursue

these and other potential biometric applications for the transportation

industry, Duda concluded.

About Lumidigm

Lumidigm, Inc. deploys biometric systems that work quickly and

effectively on all people in all environmental conditions. Headquartered

in Albuquerque, New Mexico, Lumidigm sensors are distributed worldwide.

Lumidigms initial venture capital investors

are DFJ New England, Epic Ventures, and International Venture Fund.

Other investors include Draper Fisher Jurvetson, Intel Capital, Methode

Electronics, Motorola Ventures, New Mexico Co-Investment Partners

managed by Fort Washington Capital, Solstice Capital, and Sun Mountain

Capital.

About Methode Electronics

Methode Electronics, Inc. (NYSE: MEI) is a global manufacturer of

component and subsystem devices with manufacturing, design and testing

facilities in the United States, Malta, Mexico, United Kingdom, Germany,

Czech Republic, China and Singapore. Methode designs, manufactures and

markets devices employing electrical, electronic, wireless, sensing and

optical technologies to control and convey signals through sensors,

user-interfaces, interconnections and controls. They manage their

business on a segment basis, with those segments being Automotive,

Interconnect, Power Products and Other. Their components are in the

primary end markets of the automobile, computer, information processing

and networking equipment, voice and data communication systems, consumer

electronics, appliances, aerospace vehicles and industrial equipment

industries. Further information can be found at Methode’s website at www.methode.com.

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Blake Masterson

Freelance Writer, Journalist and Father of 5

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