SCHENECTADY, NY/BERLIN & DUSSELDORF, Germany
February 2, 2004
Authentidate International AG, a subsidiary of Authentidate Holding Corp. (Nasdaq: ADAT) and Claimsoft AG have developed a new business process solution by integrating Authentidate's signature technology into Claimsoft's documentation software. This solution enables the complete electronic documentation of evidence for the construction and building industry with legal certainty under German law and compliant to European Directives. The new solution has already been used for various documentation purposes in several projects including German government buildings in Berlin, the British embassy and the Charité University Clinic in Berlin.
Authentidate will generate revenue from end users through transaction fees.
Claimsoft's industry-specific software product, Proof-It, stores and manages digital images (e.g. of work results on construction sites), construction plans, documents, notes, emails and other relevant data in a database application that is specific to the needs of the construction industry. By integrating Authentidate's accredited timestamp technology into the Proof-it software, users can annotate all data that might later become evidence-relevant with qualified timestamps pursuant to the German Signature Act and European Signature Directives. Thus, under German law and European Directives all electronic data are frozen with legal certainty and are available as evidence for possible legal proceedings.
In the construction industry, site managers, architects and project leaders spend between 40% and 50% of their working time for the documentation of projects. In the past, this documentation has had to be created in a paper format in a time and cost intensive procedure, as only paper documents were admissible in court as evidence. Legal disputes, for example due to defects, are common in the construction and building industries and have significant financial implications. By using the electronic timestamps of Authentidate's accredited service, these documentation processes are significantly expedited and simplified. The resulting cost reductions providing a major benefit for any project documentation efforts.
Through this collaborative solution, the two companies combine in an ideal form the industry-specific know-how of Claimsoft AG with the digital signature and timestamp expertise of Authentidate International AG. Customers will receive a comprehensive solution from a single party, with a single contact for all services such as software delivery, maintenance, support and legally accepted qualified timestamps.
Claimsoft AG decided to integrate Authentidate's advanced signature technology into its documentation software Proof-It, which has already been established in the market, in order to gain further competitive advantages and improve its industry-specific value proposition.
The new solution will be presented live at
The Enterprise Signature Day on March 11th, 2004 in Duesseldorf/Germany. Further information available at
www.enterprise-signature-day.com
About Authentidate Holding Corp.
Authentidate Holding Corp. (AHC) is the holding company of five business units; DocStar, Authentidate International AG, Authentidate, Inc., DJS Marketing Group/Computer Professionals International and Trac Medical Solutions, Inc. DocStar sells a complete line of proprietary document imaging products. Authentidate and Authentidate AG provide the authentication of digital data through its proprietary and patent pending technology. Authentidate intends to establish itself as the authority on "content security" as it is a growing sector of the electronic network security infrastructure market. DJS delivers professional services centered around technology systems integration projects, staff augmentation, out-tasking, outsourcing services and resells computer related products. Trac Medical uses the Authentidate service in the medical supply business.
About Authentidate International AG:
Authentidate International AG (
www.Authentidate.de), Düsseldorf, Germany is the first accredited certification provider, certified by the German Regulatory Authority for Telecommunications and Posts (RegTP), focusing legal binding timestamps compliant to the strong German electronic signature laws and European signature directives.
Authentidate is also the first accredited vendor focusing business process solutions, based on electronic signatures and timestamping technology. These solutions are featuring by easy integration, high economic efficiency, platform independence and protection of investment.
The Authentidate solutions are nationally and internationally used by well-known companies of different industries. The customers utilize the signature solutions to achieve legal security within eBilling, archiving, scanning and workflow. In addition Authentidate's technology is already integrated in different products of other manufacturers, therefore legal security for business processes is automatically available for many companies.
Authentidate is present in Europe, USA and also through partners in Asia. Authentidate Holding Corp, Inc. located in USA (New York) is listed on the Nasdaq National Market (ADAT) and in Germany (WKN 893715).
About Claimsoft AG:
The Claimsoft AG is the leading developer of software solutions for the conservation of evidence in Germany. Claimsoft's products are used particularly in the market for image-based archiving and evidence conservation systems targeted by Claimsoft. The spectrum of customers ranges from consultants to health professionals to detective superintendents. Platform-independent product solutions that integrate existing IT systems are principal qualitative characteristics of Claimsoft's products. Projects such as the government buildings at the banks of the river Spree in Berlin and various embassies are references for the capabilities of the software solutions in construction projects.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of The Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
