This agreement includes (i) a per unit license fee, as well as an annual fee, pertaining to the use of Precise BioMatch Mobile based on actual sales of certain fingerprint sensors utilizing said technology, and (ii) an annual fee for support and maintenance. While the per unit license fee is volume dependent and cannot be forecasted by Precise at this point, Precise is currently projecting that some of the revenue generated under the agreement will be recognized starting from the third quarter of 2016.
"We are delighted to enter into this commercial software license and distribution agreement with Qualcomm Technologies, Inc., a leader in the mobile industry, which will help further strengthen our position as a leader in fingerprint software. We look forward to working together and supporting Qualcomm Technologies with their fingerprint solutions," said Håkan Persson, CEO of Precise Biometrics.
Precise BioMatch Mobile (https://precisebiometrics.com/fingerprint-technology/precise-biomatch-mobile/) is the industry's leading algorithm solution for convenient and secure fingerprint recognition in smartphones and tablets. The unique and patented hybrid algorithm solution is optimized for small fingerprint sensors and platforms with limited processing power and memory. Precise BioMatch Mobile offers fast, accurate, and secure verification of user's identity, creating a convenient user experience when unlocking mobile devices or authenticating to services.
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 8.00 CEST on July 28, 2016.
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/
* Qualcomm is a trademark of Qualcomm Incorporated, registered in the United States and other countries.