July 5, 2016 -
Precise Biometrics announced an agreement with Betterlife for licensing of Precise Biometrics’ algorithm solutions for fingerprint recognition, Precise BioMatch Mobile and Precise BioMatch Embedded.
Precise BioMatch Mobile is an algorithm solution for secure fingerprint recognition in smartphones and tablets. The unique and patented hybrid algorithm solution is optimized for small fingerprint sensors and platforms with limited processing power and memory. Precise BioMatch Embedded enables secure fingerprint authentication in products with small sensors and limited platforms, such as smart cards, wearables and the Internet of Things.
Håkan Persson, CEO of Precise Biometrics commented: “We are pleased to enter this collaboration with Betterlife that further strengthens our position as the leading supplier of fingerprint software.”
According to a statement by the company, the agreement will generate royalty revenue based on actual sales of fingerprint sensors by Betterlife that includes Precise Biometrics software. The royalty revenue is volume dependent and cannot be forecasted at this point. The agreement also includes a fee for pre-paid royalty and the right to integrate and use Precise Biometrics’ software, which will be recognized starting from the third quarter 2016.