In 2007, JDSU announced its acquisition of ABNH
for $138 million in cash and JDSU stock.
VISA directed issuing banks to continue to use the 'Dove' hologram, both standard and mini, supplied by ABNH
and De La Rue Holographies.
This was followed later by another SEC filing in March which stated that, based on the ESD issue, Visa had informed ABNH
that it would no longer approve Visa card designs that incorporated the current version of HoloMag.
announced a 41% increase in sales for the first nine months of 2005 to $22.2 million, while net income grew by 65% to $2.18 million.
One joined (K Laser) and ABNH
, AH (OpSec), Hologram Industries, API and De La Rue remained.
Add in JDSU's holographic activities before its purchase of ABNH
in 2007 and there is now one company where ten years ago there were four.
JDSU's acquisition was shortly after ABNH
had moved to new premises in Robbinsville, NJ.
The key points of the agreement: ABNH
licences its hologram demetallisation patent and its hologram hot-stamping patents (often referred to as the Gallagher patents) to Kurz against a 3.5% royalty; Kurz licences its surface relief embossing patents (referred to as the Meisel patents) to ABNH
and will pay ABNH
$900,000 over two years; each company releases the other from any past or future infringement claims; and ABNH
has exclusive rights to supply holographic magnetic stripes (HoloMag[TM]) to US-based card authorising organisations and may procure component materials from Kurz, paying a royalty of 0-12%.
He joined American Bank Note Holographics in 2007, and is now Director of Science and Technology at JDSU Authentication Solutions, following JDSU's acquistion of ABNH
His role at ABNH
(and its parent company, American Banknote before that) meant that he played a big part in getting holograms accepted by credit card companies as a security feature -arguably the beginning of the security, anti-counterfeiting and authentication market for holograms.
Morris Weissman, Chairman of US Banknote, ABNH
's parent company, acknowledged that Chroma had become a serious competitor to ABNH
, prompting the lawsuit.
ABN had recruited Terry a year or two earlier for its engineering department and put him to work with this team, in due course appointing him President of ABNH
when the company was established.