The Central Bank Counterfeit Deterrence Group and Digimarc Corporation Extend Agreement

Rhea-AI Summary

Digimarc Corporation (Nasdaq: DMRC) has announced a five-year extension of its agreement with the Central Bank Counterfeit Deterrence Group (CBCDG), effective from January 1, 2023 to December 31, 2029. This extension was granted two years early and reflects Digimarc's critical role in supporting global currency counterfeit deterrence efforts. Both parties express satisfaction with the renewal, emphasizing the importance of continued collaboration. Digimarc has been a trusted partner in this initiative for over 20 years, providing vital solutions for central banks worldwide.

Positive

• Five-year agreement extension worth significant long-term revenue.
• Strengthens Digimarc's reputation as a leader in counterfeit deterrence.
• Early renewal indicates strong partnership and satisfaction from CBCDG.

Negative

• None.

BEAVERTON, Ore., Dec. 2, 2022 /PRNewswire/ -- Digimarc Corporation (Nasdaq: DMRC) is pleased to announce a five-year extension of its agreement with the Central Bank Counterfeit Deterrence Group (CBCDG). The agreement, which was renewed two years early, is effective 1 January 2023 through 31 December 2029.

"Digimarc is honored to be part of the worldwide counterfeit deterrence program and thrilled to extend our agreement with the CBCDG through the end of this decade," says Riley McCormack, Digimarc Chief Executive Officer. "The mission-critical, highly-scaled and global nature of this program is more than just a validation of our company.  It is a vitally important program we take great pride in supporting, with long-standing, deeply-valued customers – the central banks – with whom we are excited to continue to partner."

"Digimarc has been a key, long-term partner in the central banks' worldwide effort to deter counterfeiting of currency and a major contributor to the program's success. We are pleased to have renewed our agreement with Digimarc two years before expiry and to have Digimarc's continued support for this important work," states Erick Lacourrège, Executive Committee Chairman, CBCDG.

About the CBCDG

The CBCDG is a group of 35 central banks organized at the request of the Governors of the G10 central banks. Its mission is to investigate the common emerging threats to the security of banknotes, and to propose solutions for implementation by issuing authorities.

About Digimarc

Digimarc is a global leader in product digitization, delivering business value across industries through unique identifiers and cloud-based solutions. A trusted partner in deterring counterfeiting of global currency for more than 20 years, Digimarc reveals a product's journey to provide intelligence and promote a prosperous, safer, and more sustainable world. With Digimarc, you can finally see everything. And when you see everything, you can achieve anything. For more information, visit us at digimarc.com.

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SOURCE Digimarc Corporation

FAQ

What is the duration of the renewed agreement between Digimarc and CBCDG?

The renewed agreement lasts for five years, from January 1, 2023, to December 31, 2029.

When was Digimarc's agreement with CBCDG renewed?

The agreement was renewed on December 2, 2022.

What is the significance of Digimarc's partnership with CBCDG?

Digimarc’s partnership is critical for preventing currency counterfeiting and underscores its role in global security.

How many central banks are part of the CBCDG?

The CBCDG consists of 35 central banks.

How long has Digimarc been involved in counterfeit deterrence?

Digimarc has been a trusted partner in counterfeit deterrence for over 20 years.