ROCHESTER, N.Y., Oct. 14, 2020 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), a software technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, data mining, consumer engagement and track and trace features for labels, packaging and products, is pleased to announce that its Global Product Authentication Service Program Agreement with Micro Focus (NYSE:MFGP) has been renewed for 3 years.
The original agreement with Micro Focus, one of the world's largest enterprise software providers delivering trusted and proven mission-critical software that keeps the digital world running, was initially signed in December 2017.
Micro Focus's Global Product Authentication Service is a comprehensive cloud-based brand protection, track-and-trace, and consumer engagement service to protect against counterfeiting, diversion, and other illicit trade activities in global supply chains.
Patrick White, VerifyMe's President and Chief Executive Officer, commented, "Renewing our partnership with Micro Focus, one of the largest software companies in the world, is very meaningful for several reasons. Software based authentication and consumer engagment technology is a multi-billion dollar opportunity. Our VeriPAS™ software authentication technology platform is supported by Micro Focus. Not only does VeriPAS™ track a products supply chain life-cycle, it also gives the brand owner a new way to market new products and services through the consumer engagement module of the software."
Peter Gadd, General Manager, Strategic Business Services at Micro Focus, stated, "We have been very impressed with VerifyMe's team and technology. Its combination with our Micro Focus Global Product Authentication Service has created one of the most powerful, secure and comprehensive track-and-trace authentication systems in the world. We are seeing a high level of interest across multiple industry verticals and we look forward to pushing these forward and closing some of these deals with VerifyMe."