Precise Biometrics enters license agreement with Betterlife
Precise Biometrics, the leader in fingerprint software, has entered an agreement with Betterlife, for licensing of Precise Biometrics’ algorithm solutions for fingerprint recognition, Precise BioMatch™ Mobile and Precise BioMatch™ Embedded.
The agreement will generate royalty revenue based on actual sales of fingerprint sensors by Betterlife that includes Precise Biometrics software. The royalty revenue is volume dependent and cannot be forecasted at this point. The agreement also includes a fee for pre-paid royalty and the right to integrate and use Precise Biometrics’ software, which will be recognized starting from the third quarter 2016.
“We are pleased to enter this collaboration with Betterlife that further strengthens our position as the leading supplier of fingerprint software”, said Håkan Persson, CEO of Precise Biometrics.
Precise BioMatch Mobile is the industry’s leading algorithm solution for convenient and secure fingerprint recognition in smartphones and tablets. The unique and patented hybrid algorithm solution is optimized for small fingerprint sensors and platforms with limited processing power and memory. 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.
Precise BioMatch™ Embedded enables convenient and secure fingerprint authentication in products with small sensors and limited platforms, such as smart cards, wearables and the Internet of Things.
This information is information that Precise Biometrics AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 8.00 CEST on July 5, 2016.
FOR MORE INFORMATION, PLEASE CONTACT
Håkan Persson, CEO, Precise Biometrics AB
Tel. 46 46 31 11 05 or 46 734 35 11 05
ABOUT PRECISE BIOMETRICS
Precise Biometrics is a market leading supplier of solutions for convenient and secure authentication of people’s identity. We develop and sell fingerprint software and mobile smart card readers that provide the market’s best user experience and security. Our solutions are used hundreds of millions of times every day by people all over the world and are marketed together with strong business partners. For more information, please visit www.precisebiometrics.com