(TSX Venture Exchange: "IVI")
Issued Common Shares: 30,658,460
CALGARY, Dec. 16 /CNW/ - Ivrnet Inc. (TSX Venture: IVI) ("Ivrnet") is
pleased to announce the acquisition of a multi-million dollar asset in
the form of biometric software. This software was acquired as a result
of the collapse of a biometric software venture which allowed for the
product to be obtained at minimal cost.
The software will effectively position Ivrnet as a technology leader in
the current market with the ability to integrate this key component
into their current hosted services. It will also be offered as a
standalone security solution based on voice verification. Since late
2009, Ivrnet has successfully been integrating this next generation
security product within a limited rollout into three of their existing
products. This limited rollout involved the use of speaker recognition
as a multi-factor authentication gateway and as a voice sample
verifier. Ivrnet now plans to fully integrate the newly acquired speech
biometric software into their entire line of speech products. An
aggressive marketing campaign is set to begin in March 2011.
The creator of the software, Diaphonics, spent about $12 million
developing the technology over several years time. Early in 2010, in
the midst of the broader economic downturn, Diaphonics' venture-capital
backers discontinued funding. As part of a prior agreement between the
two companies, Ivrnet obtained the source code and full rights to use
the software when Diaphonics stopped supporting the technology.
Currently marketing a vast line of speech applications, and now owning a
breakthrough biometrics product, gives Ivrnet an enormous lead in the
development of biometric security systems.
Voice biometrics uses the uniqueness of a person's voice much like a
fingerprint is used to verify someone's identity. Such a system
effectively becomes impenetrable when used in conjunction with other
verification systems. Using a voice-print combined with other
verification protocol, such as a password, significantly increases
reliability and enables speech to serve as a primary security key in a
wide range of applications.
Ivrnet has already been selling Diaphonics' software to the Alberta
government as part of a customized application which verifies the
identity of a person intended to receive financial assistance. The
software is also used for quality control among sales representatives
at car dealerships. Ivrnet's secure system records and catalogues every
call; incoming and outgoing. Conversations can be immediately tracked
to the salesperson who was dealing with a particular customer. This has
removed lengthy disputes about who said what and conclusions can be
determined in a moment with a quicker resolution.
Diaphonics began the development of the speech biometrics software, and
its principles have now formed a new company. They have also indicated
that they will be continuing their excellent business relationship with
About Ivrnet Inc. - Ivrnet is a communications company that develops and operates
intelligent software applications, delivered through traditional phone
networks and over the internet. These applications facilitate
automated interaction; personalized communication between people; mass
communication for disseminating information to thousands of people
concurrently; and accessible through nearly any form of communication
technology, at anytime from anywhere in North America via voice, phone,
fax, email, texting and the internet.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This
information release may contain certain forward-looking information.
Actual future results may differ materially from those contemplated.
The risks, uncertainties and other factors that could influence the
actual results are described in documents filed with regulatory
SOURCE Ivrnet Inc.
For further information: For further information:
For additional information, please visit our website at www.ivrnet.com or contact:
David L. Snell
President and CEO