JUNE 15th, 2011
SOLVANG, California—iMagic Software, Inc, developer of Trustable Passwords, has retained an investment banking firm, Nations Media Partners, to coordinate a potential sale of the company.
iMagic Software has developed a patented software technology and algorithm that authenticates a user uniquely by the way they type a password. iMagic holds the only fundamental patent for typing recognition authentication. This methodology offers a high accuracy, equal to hardware biometrics, of authentication without a hardware solution.
“ Trustable Passwords allows a user to create a profile used to authenticate by only seven typing samples and can be completed in 15 – 20 seconds. ," Phil Boortz, President of iMagic Software, said in a statement. “The solution is easy to install on most existing web browsers, simply replacing your existing Username/Login.”.
“The potential application for this fully developed and tested software can be defined as anyone who uses a password and wants increased protection from unauthorized use”, said Paul Spurgeon, President of Nations Media. “Content Companies that sell a subscription service that wish to prevent sharing of subscriptions and passwords will use this software to prevent loss of revenue”. “Online Financial services companies such as banks, credit card companies and other online payment agencies as well as educational testing companies can safely authenticate a user without cumbersome hardware add-ons such as fingerprint recognition hardware”.
No footprint is left behind by Trustable Passwords™ , meaning the authentication mechanism can not be compromised by stealing a user’s PC, phone or something else.
The software is fully developed and has been fully tested with selected clients over the past two years. Since the passing of the founder and developer of this software, Steven Bender, in 2010, the board has decided to explore a sale in 2011, the company stated.
This sale offers a unique opportunity for a purchaser to license the software over a myriad of categories or as a simple solution to internal and external authentication needs.
To view the Offering Memorandum of this Company, please contact Paul Spurgeon with Nations Media Partners at firstname.lastname@example.org. Principals only.