ZEELAND, MI — Gentex said it has acquired Toronto-based authentication software company BioConnect for $13 million.
The deal, announced earlier this week, comes as Gentex as it continues to grow its offerings outside of the automotive electronics industry.
BioConnect provides a biometric authentication and security platform that verifies a person’s identity across physical and digital applications, protecting company assets, data and intellectual property.
Biometrics includes authentication methods such as fingerprint and facial recognition technology in smart phones.
“Biometric technology is playing an increasingly important role in the industries in which we operate, including automotive, aerospace, medical and smart home,” Neil Boehm, Gentex COO and chief technology officer, said in a statement. “This acquisition not only provides Gentex with a strong foothold in the security and access control industry, but also the expertise to continue developing advanced biometric solutions for the industries we currently serve.”
The acquisition of BioConnect comes on the heels of Gentex’s acquisition of Florida-based Voxx International in April.
Voxx International is a global manufacturer of automotive and household electronics and includes Pioneer, Klipsch and Onkyo in its line of consumer brands.
In acquiring Voxx, Gentex also added EyeLock, an iris biometric technology, to its product portfolio. Gentex’s new Security & Access Control team, under the leadership of BioConnect founder and CEO Rob Douglas, has already begun collaborating on ways to utilize EyeLock hardware in BioConnect platforms.
“We’re excited to combine our technologies and capabilities with those of Gentex,” Douglas said in a statement. “Gentex’s engineering capabilities, software expertise, and quality, high-volume electronics manufacturing will not only help us grow in the security and access control space but also expand into new platforms and industries.”
BioConnect has over 1,500 customers across regulated industries such as data storage, health care, financial services, education and manufacturing.
Zeeland-based Gentex is best known for manufacturing automotive electronics. With its recent acquisitions, however, the company has grown capabilities in vision systems, sensing, artificial intelligence, biometrics, home automation and other smart technologies.
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