VerifyMe, Inc. together with its subsidiary PeriShip Global LLC provides brand owners time and temperature sensitive logistics, supply chain monitoring, authentication, and data-rich consumer engagement services, announced today 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.
Trust Codes Limited, founded in 2013, delivers cloud-based brand protection based on a unique per-item digital identity. Leveraging 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 Zealand and Australia and an existing customer base with recurring revenue.
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. 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 and Europe we will continue to grow our existing market share and expand into new markets to include Australasia and 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,” said Paul Ryan, Trust Codes Limited, CEO.
VerifyMe, Inc. (NASDAQ: VRME), together with its wholly owned subsidiary PeriShip Global, is a software driven logistics provider of high-touch, end-to-end logistics management. We provide logistics management from a sophisticated IT platform with proprietary databases, package and flight-tracking software, weather, and flight status monitoring systems, as well as dynamic dashboards with real-time visibility into shipment transit and last-mile events. In addition, VerifyMe provides brand protection and consumer engagement solutions allowing brand owners to gather business intelligence. To learn more, visit www.verifyme.com.
Trust Codes, based in New Zealand, provides brand protection based on a digital identity for each unique item. Connecting brands to consumers, the use of unique QR codes or IoT, coupled with GS1 standards, enables transparency and traceability through a product’s lifecycle. Trust Codes leverage advanced algorithms to protect authenticity and brand value. Data-driven storytelling allows visibility of the journey for each item through the supply chain to the consumer’s hands. For additional information, please visit: https://www.trust.codes.
