Precise Biometrics signs license agreement with Cypress
Precise Biometrics has entered an agreement with Cypress Semiconductor Corp. (NASDAQ: CY) for licensing of Precise Biometrics’ products for fingerprint recognition, Precise BioMatch™ Mobile and Precise BioMatch™ Embedded.The license agreement will generate royalty revenue based on sales of fingerprint sensors from Cypress that includes Precise BioMatch Mobile or Precise BioMatch Embedded. 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