October 4, 2016 -
Precise Biometrics has entered into a commercial software license and distribution agreement with Image Match Design (iMD) for the licensing of Precise Biometrics’ algorithm solutions for fingerprint recognition, Precise BioMatch Mobile and Precise BioMatch Embedded.
The agreement includes a per unit license fee, an annual licensing fee for the right to use Precise Biometrics algorithm solutions, and an annual fee for support and maintenance. Precise Biometrics is currently projecting that some of the revenue generated under the agreement will be recognized starting from the fourth quarter of 2016.
“We are pleased that Image Match Design Inc. has chosen our fingerprint software to provide the best user experience and security of their capacitive fingerprint solutions,” said Håkan Persson, CEO of Precise Biometrics. “The cooperation strengthens our position as the leader in fingerprint software”,
“We are glad to cooperate with Precise Biometrics to enrich iMD’s diverse product line and hope we can build up positive and strong partnership from now on”, said Colman Huang, CEO of Image Match Design.
Last week, Precise Biometrics announced the deployment of Precise BioMatch Mobile in a new smartphone from an unnamed Chinese OEM.