The license agreement will generate royalty revenue based on sales of fingerprint sensors from J-Metrics 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.
"The agreement with J-Metrics further strengthens our local presence in Asia and our position as the leading independent 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 Stan Liu, CEO at J-Metrics.
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 8.00 am CET on January 15, 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
J-Metrics was founded 2008 in Taiwan. J-Metrics is committed to developing small energy efficient solutions for data storage, fingerprint identification, microcontrollers, sensors, software and hardware that meets customer's demands of convenience and ease of use. For more information, please visit www.j-metrics.com/en/