The license agreement will generate royalty revenue based on sales of fingerprint sensors from Chipone that includes Precise BioMatch Mobile. Royalty revenues are volume dependant and cannot be forecasted at this point. The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics' software and for support & maintenance, which will be recognized starting from the first quarter 2016.
"The agreement with Chipone further strengthens our local presence in Asia and our position as the leading supplier of fingerprint software for mobile devices", says Håkan Persson, CEO of Precise Biometrics.
"The cooperation with Precise Biometrics secures that we can provide a competitive total solution for fingerprint recognition", says JinFang Zhang, CEO at Chipone.
Precise BioMatch Mobile (https://precisebiometrics.com/fingerprint-technology/precise-biomatch-mobile/) is the industry leading algorithm solution for convenient and secure fingerprint recognition on smartphones and tablets. The unique and patented hybrid algorithm solution is optimized for small fingerprint sensors and platforms with limited processing power and memory space. 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 press release contains information that Precise Biometrics is required to disclose pursuant to the Swedish Financial Instruments Trading Act (1991:980). The information was submitted for publication at 8.00 am CET on February 25, 2016.
FOR FURTHER INFORMATION, PLEASE CONTACT
Håkan Persson, CEO, Precise Biometrics AB
Telefon; +46 46 31 11 05 or +46 734 35 11 05
ABOUT PRECISE BIOMETRICS
Precise Biometrics is a market-leading provider of solutions that prove people's identities through smart cards and fingerprint recognition. The company's products can be used for ID, enterprise and bank cards as well as access to mobile solutions, computers and networks. Precise Biometrics serves business and government organizations throughout the world and its products are licensed to close to 160 million users. For more information, please visit; www.precisebiometrics.com
Chipone is a leading IC design company that offers capacitive touch panel control sensors, high-end power management circuits and LED display driver IC. The company is based in Beijing. For more information, please visit www.chiponeic.com/en/