The acquisition of Etal will allow us to become a powerful force in this emerging industry
Englewood, NJ (PRWEB) September 7, 2006
Privately held Veratad Technologies LLC has announced that it has acquired the assets of Etal, Inc, a leading provider of accurate and instant online IDresponse Age Verification and Identity Verification technology solutions. Under the terms of the agreement Veratad has acquired, among other assets, IDresponse, a privacy based electronic transactional age and identity verification technology developed by Etal.
Pattie Dillon, founder of Etal, has joined Veratad Technologies as President to oversee the future development of the company - "We are all committed to identity verification tools that emphasize a concentration on privacy considerations for our clients and their customers for online and offline electronic processes. We believe we can offer significant value by reducing customer resistance to entry of their personal information during transactions. Unlike other competitive verification solutions that require exposure of sensitive customer information to complete an online transaction, Veratad will offer a patent pending solution that protects sensitive customer information while offering merchants increased online sales due to enhanced customer confidence. Veratad verifications can be delivered in a matter of seconds directly through multiple verification platforms to commerce, financial and government institutions" said Dillon.
The acquisition of the IDresponse Verification Solutions will allow Veratad to offer affordable methods of age and identity verification that defuse sensitive information through the use an exclusive patent pending privacy tool, "IDR Calc". The technology replaces the need for sensitive personal data such as the entry of the last four digits of a social security number, in order to complete verification.IDR Calc is not limited to Social Security Numbers and may be used with other types of numeric and alphabetic compilations, such as EIN or phone numbers as well as other unique identifiers. The customer's name and address combined with the simple randomly rotated IDR Calc Question Sets can assure accuracy. The optional use of additional randomly rotated questions is also available.
"The acquisition of Etal will allow us to become a powerful force in this emerging industry" said Veratad's Managing Director John Ahrens. "This transaction will afford us a competitive advantage in accurately and responsibly verifying individuals in a non-intrusive manner, respecting both our client's need for compliance and the end user's need for a level of discretion pertaining to the use of personal information."
Veratad will continue the original Etal mission to protect children online by restricting access to age sensitive products with their COPA compliant IDresponse Age and ID Verification solutions. In addition, the company plans to bolster efforts to address the needs of other markets requiring comprehensive Age and ID Verification Solutions such as ecommerce, financial institutions, telecom, wireless and payment processors all in an effort to help customers reduce levels of fraud and charge-backs as well as facilitate age and ID compliance.
The company was formally located in Olean, New York. The headquarters have been relocated to Englewood, New Jersey.
For More Information Contact:
Veratad Technologies, LLC
Englewood, New Jersey
P: 201-510-6000 ext 141
About Veratad Technologies, LLC
Veratad Technologies, LLC Veratad is a world class provider of real-time online Identity Verification and Knowledge Based Authentication Solutions designed to verify an individuals identity and age while maintaining a high level of consumer privacy.
At the center of Veratad's success is a state-of-the-art privacy processing platform which delivers Veratad's AgeMatch Age Verification Solution , IDMatch Identity Verification Solution and IDMatch+Plus Knowledge Based Identity Authentication Solution. Veratad also offers a patent pending solution that protects sensitive customer information while offering merchants increased online sales by enhancing customer confidence. Veratad verifications can be delivered in a matter of seconds directly through multiple verification platforms to commerce, financial and government institutions. Veratad also provides a wide range of custom data solutions.
In addition to the historical information contained herein, this press release contains forward -looking statements, such as statements regarding the Company's, and the combined companies', anticipated future performance, including the ability of the combined companies to expand verification and e-commerce capabilities; to increase product offerings and the size of the distribution channel; as well as statements containing the words, "believes," "intends,", and similar words. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the Company's limited operating history and variability of operating results; competition in the electronic verification and commerce market; the ability of the combined companies to successfully offer the market expanded verification and privacy tools and e-commerce capabilities and services and the market's acceptance of such offerings, and other risk factors referenced in this release.