January 13, 2016 -
The license agreement will generate royalty revenue based on sales of fingerprint sensors from Gingytech that includes Precise BioMatch Mobile.
“Gingytech is an innovative company with an interesting hybrid fingerprint sensor technology,” said Håkan Persson, CEO of Precise Biometrics. “The agreement with Gingytech strengthens our position as the leading independent supplier of fingerprint software for mobile devices.”
Gingytech develops and researches hybrid fingerprint sensors. The company says this technology allows fingerprint recognition with wet fingertips and offers a great solution for under glass placement.
Jason Wu, CEO at Gingytech commented, “The combination of our hybrid fingerprint sensor technology and Precise Biometrics’ industry leading fingerprint recognition software enables high performance fingerprint authentication for smartphones.”
The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics’ software and for support and maintenance, which will be recognized starting from the fourth quarter 2015.
Royalty revenues are volume dependant and cannot be forecasted at this point.