Enters Data Fusion Business
Unemployed, Asher began operating as a freelance computer programmer. In 1992, he started a business Database Technologies that used clusters of PCs to provide parallel supercomputing in place of more expensive mainframes and mini computers. His first contract was a data mining application for the insurance industry performed on records bought from the Florida's Department of Motor Vehicles.
DBT Online bought Asher out for US$147 million in 1999 after the FBI and the Drug Enforcement Administration suspended their contracts following revelations with Asher's involvements in drug dealing in the Bahamas and concerns that the company could potentially monitor targets of investigations.
Asher blames his ouster from Database Technologies on board member Kenneth Langone who joined the company at his invitation.
After departing DBT Online, Asher founded Seisint in 1999 by merging two companies.
ChoicePoint Public Records filed a law suit against Asher and Seisint in 2001 at Palm Beach County Circuit Court, alleging Seisint stole technology, including source code and computer hardware. Asher counter-sued in 2001 in the Fort Lauderdale U.S. District Court alleging unfair business practices by ChoicePoint Director Kenneth Langone and sought more than US$1.6 billion in damages. Both suits were dismissed on 8 March 2005 after ChoicePoint settled with Asher.
While at Seisint, Hank Asher played a leading role in developing the Multistate Anti-Terrorism Information Exchange (MATRIX) datamining system for the Florida Department of Law Enforcement, described as a tool to help state law enforcement officials identify potential terrorists. The Matrix program was shut down in June 2005 after federal funding was cut in the wake of public concerns over privacy and state surveillance.
Seisint was later sold to Anglo-Dutch publishing giant Reed Elsevier in July 2004, for US$775 million and combined with its own data aggregation subsidiary, LexisNexis. Asher had retained a large stake in the company and said in an interview that he would earn more than $250 million from the sale.
Asher has made considerable donations to US political parties and candidates amounting to US$735,000 from 1999 to 2004 including US$505,000 to the Democrats.
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