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TWST: What is ComnetiX?
Mr. Escubedo (President): The company, as Bernie said, is focused on software
solutions, principally based around identification. Our strategy is to build a
suite of products & a system of systems & and we will follow the standardized
communication protocols that are coming out of federal standards in the US.
Some of the initial work that we have done includes a series of projects in
records management and law enforcement settings. In the early 1990s, we did a
photo identification system for the Toronto Police Service in Canada. We
delivered the first FBI standardized fingerprint submission through our customer
at the Boston Police Department in 1994 & that was a criminal submission. We did
the first civil submission shortly thereafter for the same customer.
We were the first company whose product integrated with the FBI's IAFIS, and we
have continued to beat out competitors to be the first, particularly in the area
of civil applicant processing in various industries, such as the National Indian
Gaming Commission and several others.
Mr. Crotty: So just to build briefly on what Ed mentioned there, our software-
centric solutions are differentiated in one key manner, and that is the ability
to share and access data, and we will get into that a little bit later on. I
have highlighted that because it is such an important issue in the ongoing
public debate regarding the ability of various authorities of the local, state,
and federal arenas to share data among themselves. That is where our products
and software clearly differentiate themselves. TWST: What's the agenda at this point for the company? What are your priorities
for the next 12 months? What would make that time frame a success?
Mr. Crotty: Our corporate strategy has four principle elements to it. The first
element is to take our existing products and to sell those into new geographies.
Our company's footprint, not exclusively, but primarily includes New York State,
where we've had a presence for many years and through which we launched and
achieved some of those milestones that Ed mentioned. As a result of an
acquisition, we also have a very significant presence in the State of Georgia.
So we are looking to take our existing products and move those to new places.
We've recently had very significant wins in the State of California with Kern
County, and in the State of Nevada. That geographic expansion is one of the
primary pillars of our strategy.
The second pillar of our strategy is to develop new products and services. We
have in development our I-suite of products, which is an acronym for our
Intelligent Identification Environment. The principle distinguisher of those
products is additional functionality, which allows better sharing of data. We
need to fully develop that product suite, which we are in the midst of doing,
and to then sell those products in our existing geographies and new geographies.
The third aspect of our strategy is acquisitions. The company has completed two
acquisitions in the last two years. A little less than two years ago, we
acquired a fingerprint services business in Canada and approximately a year ago,
we acquired Paragon Total Solutions from just outside Atlanta.
We continue to look for and investigate those types of smaller acquisitions and
we want to continue to grow through that route. We believe this industry is
rapidly consolidating.
The fourth aspect of our strategy is to retain and expand our talent pool. At
the end of the day, this is a technology company with people who are developing
software solutions, and so we need to continue to expand our talent pool. In the
last year, we have been very fortunate to bring onboard Mike Pearson as our EVP.
Mike has had a long career in the industry and he is located in our Las Vegas
office. And in addition, a few months ago, we had Walt Davis, who is a former
Motorola executive, join our Board. So we need to continue to bring people
onboard and that's an important aspect of our strategy.
Tickers included in this excerpt: CXI:TSX
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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