Ant Fi­nan­cial buys US bio­met­ric se­cu­rity startup

China Daily (Canada) - - NEWS CAPSULE -

Ant Fi­nan­cial, Alibaba’s fi­nance arm, re­cently ac­quired US biomet r i c au­then­ti­ca­tion tech startup EyeVer­ify Inc to bet­ter se­cure con­sumers’ data and trans­ac­tions, said Ant Fi­nan­cial in a state­ment.

Ac­cord­ing to EyeVer­ify, which uses pic­tures of the hu­man eye­ball to un­lock mo­bile ser­vices, it will op­er­ate as a wholly owned sub­sidiary of Ant Fi­nan­cial and con­tinue to be based in Kansas, Mis­souri.

“Ant Fi­nan­cial is pay­ing about $ 70 mil­lion for the ac­qui­si­tion,” said a Bloomberg re­port, cit­ing a per­son fa­mil­iar with the mat­ter.

Ac­cord­ing to the re­port, as its first in­vest­ment in the US, Ant plans to use the tech­nol­ogy to up­grade its own se­cu­rity sys­tems and could even­tu­ally ap­ply it to a fu­ture US-tar­geted prod­uct.

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