Australian diversified mineral explorer Top End Minerals has revealed that it will transition away from the resources sector after the company signed a term sheet to acquire a facial recognition technology company in Tel Aviv.The company said the acquisition of the technology company and away from its previous exploration business is materially share price accretive.The Israeli company lays claim to have the world's first scale facial recognition engine that works on large numbers of different identities without loss of performance.Additionally, the company said its facial recognition technology can predict field of view, interaction, predict changes in loss or gain weight, and detect disguises such as beards, glasses and hats.The revenue model for Anyvision for its technology is based on one-off system purchase and installations and future revenue from ongoing support and any updates.While Homeland Security presents the most immediate opportunity for the business, the Anyvision technology also lends itself to applications for financial services, gaming, pathology, agriculture, and the control of home devices.The company boasts a team with a mix of Defence and Technology skills who will continue to lead Anyvision and join the Board of Top End upon transaction completion.Completion of the deal is slated for first half of 2016.Upon closure of the transaction and approvals, Top End will acquire all of the issued capital of Anyvision from the vendor equity holders for $6 million.This consideration involves $100,000 paid to Anyvision for working capital on the execution of the term sheet and $100,000 per month during the course of the transaction to Anyvision for working capital purposes for three months.

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