Retail News

Alibaba buys eye-scanning software firm

Bloomberg 09/13/2016

A division of the Chinese e-commerce giant has reached a deal to acquire EyeVerify, a startup in Kansas City that enables smartphone users to unlock their devices using eye scans. The reportedly $70 million deal is the first by Ant Financial, Alibaba’s finance arm, in the U.S. The company has said it made the acquisition to improve its own security systems and that it could be used later for future products intended for the American market.

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