Strategic acquisition increases VerifyMe’s service offerings, and geographic markets
VerifyMe, Inc. together with its subsidiary PeriShip Global LLCย provides brand owners time and temperature sensitive logistics, supply chain monitoring, authentication, and data-rich consumer engagement services, announced that it has acquired the assets of Trust Codes Limited, a New Zealand business specializing in unique item level codes for brand protection, data intelligence and consumer engagement technology with an expertise in the food and agriculture industry. This acquisition will strengthen VerifyMe’s ability to deliver product traceability services to a global customer base.
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Trust Codes Limited, founded in 2013, delivers cloud-based brand protection based on a unique per-item digital identity.ย Leveraging ย advanced algorithms and machine learning, the Trust Codes solution helps protect brand and product authenticity, increases data visualization of a product through the end to end supply chain, and creates a data-driven engine to inform and educate consumers of the product. Brand owners are able to engage directly with their consumer to build brand trust and connect to the provenance of a product. Trust Codes Limited currently has employees in New Zealandย andย Australiaย and an existing customer base with recurring revenue.
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Patrick White, VerifyMe’s Chief Executive Officer, commented, “With much of Trust Codes customer base being in the food space, it provides a great opportunity to leverage that with PeriShip’s customers and service offerings.ย We believe the two organizations have significant synergies, and with the innovative and sophisticated proprietary platform of Trust Codes and VerifyMe’s presence in the US andย Europeย we will continue to grow our existing market share and expand into new markets to include Australasia andย China.”
“Trust Codes Limited with its experienced management team and its proven brand protection solutions is excited at the opportunities this transaction creates for us to work with the VerifyMe team and expand our full suite of services into the US market and globally,” saidย Paul Ryan, Trust Codes Limited, CEO.
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