Bankrupt biometrics company Solidus Networks Inc., which does business as Pay By Touch, is looking to sell itself in separate auctions of its core and non-core assets.
Core assets center on Pay By Touch’s biometric-authentication technology that uses fingerprint identification. Pay By Touch’s biometrics business proved to be a huge money loser despite installations in more than 700 U.S. retail locations, most notably SuperValu Inc.’s Jewel/Osco grocery stores in the Chicago area. An auction for this part of the business is expected in early March.
The non-core assets include an assortment of subsidiaries such as the former CardSystems merchant processor, ATM Direct, the former InterCept Payment Solutions, and the Paycheck Secure unit of the former BioPay LLC, a biometrics rival that Pay By Touch acquired in late 2005.