The first business agreement under the framework agreement covers licensing of fingerprint software for embedding into NXP's fingerprint reader products. The business agreement includes a per unit license fee, a fee for support and maintenance and a fee for non-recurring engineering efforts. Precise Biometrics is currently projecting that some initial revenues generated under the agreement will be recognized starting from the first quarter of 2017. The per unit license fee is volume dependent and cannot be forecasted by Precise Biometrics at this point.
"NXP Semiconductors is a leader in secure connectivity solutions for embedded applications and we are pleased to enter this framework agreement. The agreement presents opportunities for further cooperation in a wide range of secure identification areas and strengthens our position as the leader in fingerprint software" said Håkan Persson, CEO of Precise Biometrics.
This information is information that Precise Biometrics AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 15.00 CEST on March 28, 2017.
FOR FURTHER INFORMATION, PLEASE CONTACT
Håkan Persson, CEO, Precise Biometrics AB
Phone; +46 46 31 11 05 or +46 734 35 11 05
ABOUT PRECISE BIOMETRICS
Precise Biometrics is a market leading supplier of solutions for convenient and secure authentication of people's identity. We develop and sell fingerprint software and mobile smart card readers that provide the market's best user experience and security. Our solutions are used hundreds of millions of times every day by people all over the world and are marketed together with strong business partners. For more information, please visit; https://precisebiometrics.com Follow us on LinkedIn (https://se.linkedin.com/company/precise-biometrics) and Twitter (https://twitter.com/pbiometrics).