The agreement includes a per unit license fee, and annual fee's for the right to use Precise Biometrics algorithm solution and for support and maintenance. Precise Biometrics is currently projecting that some initial revenue 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
"We are pleased that ZEITEC has chosen our fingerprint software to provide the best user experience and security for their fingerprint sensors. The cooperation 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 10.00 CEST on March 31, 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).