The license agreement will generate royalty revenue based on sales of fingerprint sensors from FocalTech 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 fourth quarter 2015.
"FocalTech is one of the leaders in multi-touch technology and touch panel controllers. The agreement with FocalTech strengthens our position as the leading independent supplier of fingerprint software for mobile devices", says Håkan Persson, CEO of Precise Biometrics.
"The agreement with Precise Biometrics enables us to target the fast growing market for fingerprint technology in mobile devices in China. FocalTech's touch controller shipments have exceeded 300 million and we have become the number one supplier globally in 2015. Based on FocalTech's experience in supply chain, we will accelerate the sales of our fingerprint sensors to the mobile device market", says MC Liao, President at FocalTech.
Precise BioMatchTM Mobile (https://precisebiometrics.com/fingerprint-technology/precise-biomatch-mobile/) provides easy integration of fingerprint matching functionality for smartphones and tablets, and is optimized for small touch sensors in mobile environments through a unique patented hybrid algorithm. The software offers fast, accurate, and secure verification of the user's identity, creating a convenient user experience for consumers when unlocking their mobile device or authenticating to services, while delivering enhanced security.
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 11.30 am CET on December 22, 2015.
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
FocalTech Systems Co. Ltd. is a pioneering touch panel controller and driver ICs supplier, specializing in human and machine interface technology. FocalTech has strong capabilities in panel related technologies, such as α-TFT and LTPS display driver, capacitive 2D/ 3D touch controller, algorithm and ITO sensing patterns. FocalTech possesses an efficient and powerful R&D teams and operation centers in Taiwan and China. For more information, please visit http://www.focaltech-electronics.com