October 20, 2015 -
The license agreement will generate royalty revenue for Precise Biometrics based on sales of fingerprint sensors from Cypress. The royalty revenues are dependent on volume and cannot currently be forecasted.
The deal also includes a limited initial fixed fee for the right to integrate and use Precise Biometrics’ software as well as for support and maintenance, which will be recognized starting from the third quarter of 2015.
Optimized for small touch sensors in mobile environments through a patented hybrid algorithm, Precise BioMatch Mobile enable mobile device manufacturers to seamlessly integrate fingerprint matching functionality into their smartphones and tablets.
The software quickly, accurately, and securely verifies the user’s identity to provide consumers with an efficient user experience when unlocking their mobile device or authenticating to services, while delivering enhanced security.
Precise Biometrics also offers fingerprint technology to embedded solutions. Precise BioMatch Embedded provides easy integration of fingerprint matching functionality for numerous environments and applications.
“The agreement with Cypress strengthens our position as the leading supplier of fingerprint software for mobile and embedded devices,” said Håkan Persson, CEO of Precise Biometrics. “Cypress is a leading supplier of u interface solutions, and we are pleased to be part of their impressive product portfolio.”
Cypress’s TrueTouch fingerprint reader is designed to deliver reliable and simplified user authentication to various mobile devices including smartphones, tablets and wearables.
Using proprietary sensing circuitry and a unique touch sensor design, the solution provides best-in-class fingerprint image quality and pattern matching accuracy, improved security and a seamless user experience.
Mobile device designers can use TrueTouch to create custom home buttons with specialized shapes and sizes or to integrate the sensor into the industrial design or home button of their products.
“Fingerprint biometrics for user authentication on smartphones is becoming increasingly important as users expand the amount of personal and financial data stored on their devices,” said Hassane El-Khoury, executive vice president of Cypress’ programmable solutions division. “The combination of the superior image quality of our TrueTouch Fingerprint Reader and the accuracy of Precise Biometrics’ fingerprint recognition software enables industry-leading authentication performance for smartphones.”
Previously reported, Fingerprint Cards (FPC) and Precise Biometrics have partnered to integrate their respective fingerprint recognition technologies integrated into two of Google’s two Nexus smartphones.