April 15, 2013 -
The Precise Biometrics Tactivo reader has just been awarded FIPS 201 certification from the U.S. Government Services Administration (GSA). Upon the news of this fresh certification, the company’s stock jumped as much as 12 percent.
“This certification is of tremendous importance for all PIV related purchases by Government Agencies and Contractors,” Thomas Marschall, CEO of Precise Biometrics said. “We consider the certification to be fully in sync with the forthcoming mobile mandates, which are expected to require the use of PIV or CAC credentials when accessing secure government applications from a mobile device. Being the first and only certified mobile smart card reader supports our sales ambitions in this field as it will also help all of our partners in their sales efforts.”
According to the company, this certification and approval by GSA enables all US Government agencies — including Precise Biometrics — to comply with OMB 11-11 mandates requiring all Federal employees to utilize their PIV cards when accessing government resources.
The market has also reacted positively to this announcement. According to a report in Bloomberg, the stock rose to its highest level in two weeks in Stockholm trading, jumping as much as 12 percent. Also in the report, Precise’s stock has more than doubled this year already, valuing the company at $74.2 million (473.5 million kronor).
This is great news for the Tactivo, which according to the company’s 2012 Annual Report, disappointed on sales, partly due to the lead times required for preparing a product for market.