The Operator will in Q1 start to offer Tactivo to their extensive base of US Government and Corporate customers. Through their comprehensive sales force, Tactivo will get substantial exposure to our core geographic and segment markets. The Operator will launch and make public their Tactivo initiative later in March.
The Tactivo devices will provide the Operator's customers the ability to use government mandated PIV credentials for remote access on mobile devices. A very important driver of this agreement is the expectation that before the end of the Government budget year in September 2013, a new policy will be announced, mandating the use of the PIV credentials for all Government employees and Government contractors on Mobile devices. This relates directly to some of the previously launched Cyber Security initiatives, which was even emphasized in February by President Obama in his State of the Union address. We expect this area to remain an important focal project within US Government in the coming years, despite for the current reductions in public spending.
CEO & President of Precise Biometrics, Thomas Marschall says, "We consider the agreement with this leading Operator, soon to be named, a breakthrough milestone and a very important endorsement of our line of Tactivo products. Their marketing and sales resources are unmatched in the market wherefore we have very high expectations to this partnership, especially considering the size of the Government market".
There are currently a total of 5.6 million Government employees and Contractors requiring PIV credentials. The majority of these have already been issued a PIV card, and they will be subjected to this new mandatory requirement for implementation on mobile platforms used for remote access.
Thomas Marschall continues "US Government compliance with the new mandate will remain a cornerstone of our Tactivo strategy for 2013 and onwards. With our ambitious Product Roadmap including the introduction of an Android and even other platform enabled Tactivo products in the coming quarters, we will be able to cover the full scope of devices uses by US Government employees. As such we consider ourselves market leader within mobile smartcard readers. Even outside the US Government segment we continue to see a strong and positive development, the results of which will start to materialize in spring of this year."
Precise Biometrics AB (publ) may be required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 1:00 pm on March 4, 2013.
FOR FURTHER INFORMATION, PLEASE CONTACT
Thomas Marschall, President and CEO, Precise Biometrics AB
Telephone; +46 46 31 11 10 or +46 734 35 11 10, E-mail; firstname.lastname@example.org
Patrik Norberg, CFO, Precise Biometrics AB
Telephone; +46 46 31 11 47 or +46 734 35 11 47, E-mail; email@example.com
Precise Biometrics is a market-leading provider of solutions for fingerprint recognition to prove people's identities. With top-of-the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person.
The technology adds value to ID, enterprise and bank cards as well as access to mobile solutions (smart phones and tablets), computers and networks. Precise Biometrics serves business and government organizations throughout the world and its technology is licensed to close to 160 million users.
For more information, please visit www.precisebiometrics.comand www.idApps.com (https://www.precisebiometrics.com/)