Biometrics vendor Bioscrypt Inc. is closing a research facility and transferring some engineers to its headquarters near Toronto.
The company, which is being acquired by L-1 Identity Solutions Inc. of Stamford, Conn., announced this week it is restructuring its global work force and transferring manufacturing assembly operations. It did not say what offices would be closed, but it Sunnyvale, Calif., Geneva, Switzerland and High Wycombe, England.
Bioscrypt expects the closures will save the company $2 million per year, though it will be hit with a one-time cost of $800,000. The company currently has more than 100 employees.
It makes both multi-factor authentication and biometrics products, including VeriSoft Single Sign-On, which stores user names and passwords for multiple applications and is desined to enter logon credentials automatically. It can work with fingerprint readers, smart cards and tokens.
