VerifyMe Acquires Assets of Digital Identity Brand Protection Company

With headquarters in Rochester (NY), VerifyMe provides comprehensive brand protection and customer engagement solutions that combine secure product authentication, intelligent track and trace, and tailored communication strategies with industry-leading online retail monitoring capabilities.

In April 2022, VerifyMe acquired logistics firm PeriShip for $10.5 million. At the time, VerifyMe CEO Patrick White said: ‘the PeriShip, LLC acquisition is part of our long-term strategic plan. We believe it will provide a new entry point in the pharmaceutical market with authentication, serialisation and track and trace, to assist clients in meeting the 2023 Drug Supply Chain Security Act requirements’.

And now, as part of that strategy, VerifyMe has acquired the assets of Trust Codes Limited, a New Zealand business specialising in unique item level codes for brand protection, data intelligence and consumer engagement technology with an expertise in the food and agriculture industry.

Trust Codes Limited, founded in 2013, delivers cloud-based brand protection based on a unique per-item digital identity. Leveraging advanced algorithms and machine learning, the Trust Codes solution helps protect brand and product authenticity, increases data visualisation of a product through the end to end supply chain, and creates a data-driven engine to inform and educate consumers of the product. Brand owners are able to engage directly with their consumer to build brand trust and connect to the provenance of a product.

Patrick White had this to say about this latest acquisition: ‘with much of Trust Codes, customer base being in the food space, it provides a great opportunity to leverage that with PeriShip’s customers and service offerings. We believe the two organisations have significant synergies, and with the innovative and sophisticated proprietary platform of Trust Codes and VerifyMe’s presence in the US and Europe we will continue to grow our existing market share and expand into new markets to include Australasia and China.’ 

Paul Ryan, Trust Codes Limited CEO said, ‘Trust Codes Limited, with its experienced management team and its proven brand protection solutions is excited at the opportunities this transaction creates for us to work with the VerifyMe team and expand our full suite of services into the US market and globally.’