Precise Biometrics extends cooperation with CanvasBio to develop sensors for mobile phones

Precise Biometrics has signed a 12 month Evaluation License Agreement with CanvasBio, a Korean manufacturer of fingerprint sensors. This agreement is to jointly develop a fingerprint module for use in mobile phones. The agreement is an important step in the further commercialization of Precise Biometrics’ algorithms on the Asian market.

In December 2022, Precise Biometrics signed a Development Partnership with CanvasBio to develop a fingerprint module for laptops, with the sensor from CanvasBio and the BioMatch algorithms from Precise Biometrics. The new Evaluation License Agreement for Precise Biometrics algorithms targets more complex capacitive sensors in mobile phones.

Patrick Höijer, CEO of Precise Biometrics, comments:
We are happy to extend our partnership with the Korean sensor company CanvasBio with this additional Evaluation License Agreement. Beside the revenue which will result from the evaluation agreement, it is a great step to further broaden our business with CanvasBio, to support their aim for a broad commercial launch of their fingerprint sensors.”

About CanvasBio
CanvasBio has the mission to grow as a provider “Global Total Solutions for Biometrics” to the biometrics industry by providing customers with algorithms, sensors, hardware and applied techniques of software. Rather than competing, the company is partnering with existing companies specialized in security and bio-authentication to expand the business. CanvasBio aim to lead in the biometrics market by providing fingerprint recognition IC, algorithms, authentication and security services. Based on extensive business experience in the biometrics industry, the company intends to lead in the software and authentication service market as well.