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Smart ring producer Oura has announced the acquisition of Proxy, a digital identity sign platform, for an undisclosed quantity of equity. By acquiring Proxy’s identification know-how and smart ring patent portfolio, Oura intends further to solidify its place in the patron wearables market with more functions. Proxy‘s digital identification sign technology is designed to substitute keys, playing cards, and passwords for improved information privacy. The corporate also developed biometrically-linked expertise for wearables. After the acquisition, Proxy’s team will change into Oura’s full-time employees. "Oura was based on a culture of innovation and has put great emphasis on constructing broad protection for our intellectual property," feedback the company’s CEO, Tom Hale, who joined Oura a yr ago. Hale states that this choice will develop the variety of potential clients for Oura, creating opportunities in areas akin to payments, logical and bodily access management, and identity authentication, secured with Oura’s heartbeat biometrics. "With the acquisition of Proxy, we've probably the most comprehensive portfolio within the smart ring space," he adds.
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