February 17, 2016 -
Fingerprint software firm Precise Biometrics has expanded its licensing agreement with Fingerprint Cards (FPC) to include Precise BioMatch Embedded for smart cards.
Precise BioMatch Embedded is an algorithm solution that offers secure fingerprint recognition for products with small fingerprint sensors and platforms that have limited processing power and memory space, such as smart cards, wearables, locks and cars.
“There is a great interest to integrate fingerprint technology in new product areas,” says Håkan Persson, CEO of Precise Biometrics. “The expanded agreement with Fingerprint Cards – the largest sensor manufacturer – confirms our position as the leading supplier of fingerprint software and opens up interesting growth opportunities within smart cards.”
“In the coming years, smart cards and other new markets will contribute to a significant growth of the market for fingerprint sensors,” added Jörgen Lantto, CEO of Fingerprint Cards. “Our ambition is to take the leading position within these new areas in the same way as we did within smartphones. Our leading fingerprint sensor technology together with Precise Biometrics’ algorithm will offer market-leading performance.”
The expanded license agreement will generate royalty revenue based on FPC’s sales of fingerprint sensors for smart cards that use Precise BioMatch Embedded. Royalty revenues are volume dependent and cannot be forecast.
Earlier this year, FPC announced that, in cooperation with other industry leaders, it has been developing solutions to enable the use of FPC’s touch fingerprint sensor technology for automotive applications.