The agreement includes a per unit license fee, an annual licensing fee for the right to use Precise Biometrics algorithm solutions and an annual fee for support and maintenance. While the per unit license fee is volume dependent and cannot be forecasted by Precise Biometrics at this point, Precise Biometrics is currently projecting that some of the revenue generated under the agreement will be recognized starting from the fourth quarter of 2016.
"We are pleased that VKANSEE has chosen our fingerprint software to provide the best user experience and security for their under-glass optical fingerprint sensors. The cooperation creates additional growth opportunities for us and strengthens our position as the leader in fingerprint software" 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 15.00 CET on December 12, 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 Follow us on LinkedIn (https://se.linkedin.com/company/precise-biometrics) and Twitter (https://twitter.com/pbiometrics).
Vkansee is the developer of the world's first and most secure under-glass patented and ultra-thin optical fingerprint sensor. Vkansee's fingerprint technology enables mobile security for payment applications, data storage, access control and more, across a variety of mobile and connected devices. For more information visit us at www.vkansee.com