VerifyMe and SmartGlyph Form Partnership to Integrate Technologies and Market Digital Security
Cross Selling Relationship Expected to Increase Revenue Opportunities for Both Companies
Rochester, NY – GlobeNewswire – July 28, 2020 – VerifyMe, Inc. (NASDAQ: VRME), a digital technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products, is pleased to announce a partnership with SmartGlyph, a U.K.- based digital solutions provider. The partnership is expected to increase business opportunities and add incremental revenue for both companies.
The VerifyMe and SmartGlyph partnership is focused on the integration of their respective technologies offering a high value-add solution to brand owner worldwide. The partnership includes a cross-selling agreement, whereby each company will promote the combined product offering.
VerifyMe Chief Executive Officer, Patrick White, commented, “We believe SmartGlyph’s technology is a great fit and add-on for our suite of security authentication products. A closed source code is preferred for the prevention of digital virus penetration. This is particularly important for the pharmaceutical industry. Once integrated together, we believe our offering with SmartGlyph will represent a compelling feature rich breakthrough solution. We expect that this partnership will enable us to broaden our reach into new territories, industries and customers and add meaningful revenue.”
SmartGlyph Global Affiliates Director, Paul Greaves, stated, “We recognize the superiority of VerifyMe’s verification, authentication and anti-counterfeiting technology solutions and coupled with our current capabilities, believe our current customer base and prospects will see the enhanced value-add. We look forward to integrating the technologies and are enthusiastic about the cross-sell opportunities and potential to increase our market penetration.”
VerifyMe and SmartGlyph are integrating their technologies for an advanced protection and engagement ecosystem. The combined offering will include VerifyMe’s global supply chain security and cutting-edge product authentication. VerifyMe’s technology solutions prevent counterfeiting and diversion through instant verification, enforcement and advanced cloud-based track and trace that integrates with security features. VerifyMe’s solution also encompasses visible and invisible codes, pre-printed serialized labels or an integrated label solution. SmartGlyph provides a patented, bridging technology enabling 2-way, interactive, rich-media experiences for advanced customer engagement. SmartGlyph transforms any existing identifier (barcode, QR code, data matrix, logo, NFC, RFID, serial#) into an intelligent, 2-way communication channel with unlimited functionality and is designed for secure, incorruptible transactions and engagement in a closed loop channel.
About SmartGlyph SmartGlyph is a United Kingdom-based company that provides a multi-faceted, “software only” coding platform to enhance customer security, experience and adherence. SmartGlyph enables an organization to take control of existing optical codes, such as barcodes, QR or SKU codes, and make them intelligent, 2-way, rich media and real-time and secure communication channels. Using a mobile phone or smart device, SmartGlyph ensures effortless access to unlimited information, functionality and experiences. It is the only solution that can augment any existing identifier in any format by creating a virtual SmartGlyph that acts as a bridge to secure data in the cloud. Dynamic, intelligent and flexible, it is designed to meet the needs of brands today and into the future. It integrates into existing apps, is Google Lens compatible for APP-LESS Interaction or can be accessed with a SmartGlyph App.
For additional information, please visit: https://www.smartglyph.com.
About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME), is a technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products. VerifyMe’s physical technology authenticates packaging, labels and documents with a suite of proprietary security inks and pigments, which work in conjunction with serialization and track and trace software known as VeriPAS™ that allows both consumers and brand inspectors to verify authenticity with their smartphones. VeriPAS™ is a serialization software system that brand owners access through a web portal to monitor, control and protect their products complete life cycle. To learn more, visit www.verifyme.com
Cautionary Note Regarding Forward-looking Statements
This release contains forward-looking statements regarding revenue opportunities, the use of our products in additional presses and locations, the results of ongoing tests, and roll- out of our products and authentication devices which involve uncertainty and risk. The words “believe,” “may”, “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include our ability to work with partners in selling our technologies to businesses, production difficulties, our inability to enter into contracts and arrangements with future partners, and issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies, the efficiency of our authenticators in the field, our patents including potential litigation, the successful development of our sales and marketing capabilities, and the ongoing novel COVID-19 pandemic. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2019 and our quarterly reports on Form 10-Q. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.