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SMIT Acquires a Hardware-based Verification Systems and Software Company

HONG KONG, Oct. 31, 2018 /PRNewswire/ — SMIT Holdings Limited (“SMIT” or the “Company,” collectively with its subsidiaries, the “Group”) (stock code: 2239), a world-main CAM supplier and a prime mPOS dealer in China, has introduced its new acquisition of S2C Tech Inc. (“S2C”), a hardware-primarily based verification structures and software program businesses, to also diversity it’s enterprise and sales circulate.

According to the settlement, the Group agreed to acquire 19,042,988 normal shares representing about 86.36% interest in the share capital of S2C on a totally diluted basis, on the maximum coins attention of US$19,000,000, plus up to US$2,000,000 on the maximum in milestone primarily based payments to the key management crew. S2C has been successfully delivering hardware-primarily based speedy verification solutions considering its establishment in 2003. S2C affords 1) speedy hardware-primarily based verification gadget and automation software; 2) Prototype Ready™ IP, interfaces, and platforms; 3) System-degree design verification and acceleration tools.

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With over four hundred customers and more than 2000 systems mounted, S2C’s cognizance is on SoC/ASIC development to lessen the SoC design cycle. Its extraordinarily certified engineering crew and client-centric sales force are aware of users’ SoC development needs. S2C systems were deployed with the aid of leaders in patron electronics, communications, computing, picture processing, statistics storage, research, schooling, automotive, medical, layout services, and silicon IP. S2C has workplaces and distributors worldwide, such as inside the US, UK, Israel, mainland China, Taiwan, South Korea, and Japan.

Mr. Shuai Hongyu, President of SMIT, stated, “S2C is a nicely set up company basically engaged in rapid hardware-primarily based verification structures and software for over 15 years. It has a sturdy presence in mainland China, Japan, South Korea, and Taiwan. The acquisition added a brand new and strategically essential component to our ongoing commercial enterprise improvement and facilitated us to quick faucet into this new industry. It is also in keeping with our basic investment approach inside the excessive-technology area, representing a great possibility of developing our revenue circulation. Through SMIT’s new investments, S2C could be capable of accelerating new product trends and offer advanced customer support.”

About SMIT Holdings Limited (Stock code: 2239)

SMIT Holdings Limited is a leading security gadgets provider for pay-TV broadcasting get admission to worldwide and for cellular point-of-sale, or mPOS, charge structures in China. The Company’s most important product kinds are CAMs and mPOS gadgets. The Company is a leading CAM issuer globally and a chief mPOS supplier in China. Biometric verification systems are actually being used to monitor criminal offenders, including supervised probation, parole, or house arrest.

These biometric verification systems use voice reputation, and fingerprint scans to the song and supervises those crook offenders to make certain that they are in which they have to be when they ought to be. While the advent of this technology brings up worries approximately privateness rights in the general public, the use of the biometric verification systems truly makes monitoring these crook offenders plenty simpler for police officers and probation and parole officials. The biometric verification machine can function at the side of conventional house arrest bracelets. While the bracelet allows for tracking of the criminal wrongdoer, authorities can be fooled if the bracelet is cleverly removed and planted on a dog or a different puppy. With the biometric verification gadget, such trickery is effortlessly discovered.

A biometric verification machine is an automatic machine that calls the criminal culprit on their telephone at scheduled or random periods. When the criminal wrongdoer solves the smartphone or is given the cellphone call, more than a few are pressed at the contact tone telephone to signify the crook perpetrator’s presence. Then, the criminal perpetrator is informed to mention a phrase. The biometric verification gadget then verifies the vicinity of the criminal offender through voice reputation generation.

The biometric verification machine scan is also used independently to ensure that crook offenders’ who probation or parole aresatisfyeir launch necessities. Scheduled voice recognition phone calls may be located to the criminal culprit’s employment location to make certain that release requirements of retaining a full-time process are being met. If a juvenile is being launched on the idea that he or she can achieve a GED, phone calls may be scheduled with the biometric verification machine to make certain that the teens are certainly at GED training where he or she belongs.

The biometric verification machine has several different makes use of as nicely. Those required to take riding instructions, test instructions, or carry out community service can be validated. By the use of biometric verification in those instances, people would be not able to get a pal or family member to face in for them in place of carrying out the required provider or magnificence themselves. The biometric verification could take vicinity whilst an administrator located a name to the machine. The man or woman might then be requested to speak a phrase into the smartphone, which could be matched using voice popularity.

The biometric verification structures being adopted via law enforcement officials, probation officials, and parole officials are pretty versatile and could have many greater uses. Should the structures grow to be public, parents should use the biometric verification systems to music their kids to ensure that they may be certainly in which they declare to be. It can also be used to tune legal extraterrestrial beings to make sure that they may be following immigration necessities.

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