Helios and Matheson Analytics Inc (NASDAQ: HMNY) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it and RedZone have acquired global license rights to a key facial recognition software. Of course, this led to excitement among investors, causing gains in the stock and prompting our partners at Trade Ideas to alert us to the movement. At the moment (9:55), HMNY is trading at $4.00 per share after a gain of $1.55 per share or 63.27% thus far today.
HMNY Announces Acquisition
As mentioned above, Helios and Matheson Analytics is off to a great start in the market today after announcing that it and RedZone made a key acquisition. The two companies have acquired global license rights to IsItYou’s facial recognition technology in the field of crime and terrorism. The acquisition was acquired for integration with the RedZone Map product.
The goal of the acquisition is to integrate RedZone Map’s artificial intelligence technology and proprietary real-time crime database with the facial recognition technology. In doing so, HMNY and RedZone will allow RedZone Map users to identify people whose images they are able to capture through the smartphone’s camera. That is, if the image of the person is in the can be identified through the database within the RedZone Map.
This bodes well with RedZone’s plans on developing the ability to deliver real-time notifications of criminally active people within a given user’s area. In particular, this will be useful in large events and public spaces. However, to do so, the company will need to obtain permitted access to publicly located surveillance cameras operated by private enterprises as well as government entities.
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