IRIS Shuts 3D Tech Subsidiary

No longer eligible to receive federal grants for its research, IRIS International, Inc. closed down its Advanced Digital Imaging Research subsidiary. In reviewing the Chatsworth-based business’s profitability, it was determined that the ADIR subsidiary in Friendswood, Texas could not continue without grants or a business partner to cover expenses, said IRIS International President and CEO Cesar Garcia. Also, another two years was needed to develop a commercial version of the 3D facial recognition technology the subsidiary was developing, Garcia said. “IRIS will continue to own all the patents, intellectual property, equipment and prototypes of the ADIR subsidiary and will seek to monetize these over some period of time,” Garcia added. IRIA saves $800,000 in salaries and overhead by closing the subsidiary.