The expanded license agreement will generate royalty revenue based on Fingerprint Cards' sales of fingerprint sensors for smart cards that use Precise BioMatch Embedded. Royalty revenues are volume dependant and cannot be forecasted at this point.
"There is a great interest to integrate fingerprint technology in new product areas. The expanded agreement with Fingerprint Cards – the largest sensor manufacturer – confirms our position as the leading supplier of fingerprint software and opens up interesting growth opportunities within smart cards," says Håkan Persson, CEO of Precise Biometrics.
"In the coming years, smart cards and other new markets will contribute to a significant growth of the market for fingerprint sensors," says Jörgen Lantto, CEO of Fingerprint Cards. "Our ambition is to take the leading position within these new areas in the same way as we did within smartphones. Our leading fingerprint sensor technology together with Precise Biometrics' algorithm will offer market-leading performance," concludes Jörgen Lantto.
Precise Biometrics has close to 20 years' experience of developing fingerprint software for small sensors, and has set the standard for the best user experience on mobile devices. The company's software is used hundreds of millions times every day by people across the whole world, and is integrated in smartphones from over 25 smartphone manufacturers and in more than 100 million national ID cards.
Precise BioMatchTM Embedded (https://precisebiometrics.com/fingerprint-technology/precise-biomatch-embedded/) is an industry leading algorithm solution that offers convenient and secure fingerprint recognition for products with small fingerprint sensors and platforms with limited processing power and memory space, such as smart cards, wearables, locks and cars.
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 17, 2016.