The license agreement will generate royalty revenue based on sales of fingerprint sensors from OXi 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 is recognized starting from the fourth quarter 2015.
"The agreement with OXi strengthens our position as the leading independent supplier of fingerprint software for mobile devices. OXi is a Chinese vendor with a very innovative sensor technology", says Håkan Persson, CEO of Precise Biometrics.
"We believe that the collaboration with Precise Biometric will enable us to provide a competitive solution for the biometric sensor market", says Hong Zhu, CEO at OXi.
Precise BioMatch 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 11.00 am CET on December 17, 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
ABOUT OXI TECHNOLOGY
OXi technology is a biometric sensor company located in Shanghai, Zhangjiang hi-tech park. OXi provides biometric sensors and solutions based on its unique TFT Thin Optical Touch technology, which combines high performance image with competitive cost structure. OXi specializes in integrating IC design with glass technology. OXi products cover both mobile, industrial and government security market.