The license agreement will generate royalty revenue based on sales of fingerprint sensors from MStar that includes Precise BioMatch Mobile. Royalty revenues are volume dependent 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, which will be recognized starting from the first quarter 2016.
"MStar is a prestigious company in the field of touch panel IC. We are looking forward to the collaboration with MStar, which further strengthens our local presence in Asia and our position as the leading supplier of fingerprint software", says Håkan Persson, CEO of Precise Biometrics.
"Precise Biometrics offers fingerprint software with industry leading performance. The agreement with Precise Biometrics enables us to offer leading fingerprint solutions that provides convenient and secure verification of people's identity on mobile devices. The addition of the fingerprint product will further enhance our position in the touch panel market with the common customer base", says SY-Lin, director of Touch Business Unit at MStar.
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 April 5, 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
ABOUT MStar Semiconductor, Inc.
MStar Semiconductor, Inc. is a world-class leader in Application Specific ICs with a focus on consumer electronic products and communication applications. Since the inception in 2002, MStar has established a strong brand and leadership position in LCD controller, analogue and digital TV, and set-top box by fully leveraging its core expertise of cutting-edge design capabilities, continuous innovation and premier customer-focused services. Headquartered in Taiwan, MStar has a comprehensive global footprint of international R&D and customer support centers to provide a full range of total solutions for various consumer electronic applications. For more information, please visit http://www.mstarsemi.com/