December 12, 2016 -
Precise Biometrics has signed a commercial software license and distribution agreement with Vkansee for the licensing of Precise Biometrics’ algorithm solution for fingerprint recognition in mobile devices, Precise BioMatch Mobile.
The deal 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 said it cannot forecast the per unit license fee at this point since it is volume dependent, but the company 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 Vkansee has chosen our fingerprint software to provide the best user experience and security for their under-glass optical fingerprint sensors,” said Håkan Persson, CEO of Precise Biometrics. “The cooperation creates additional growth opportunities for us and strengthens our position as the leader in fingerprint software.”
Precise BioMatch Mobile is a unique and patented hybrid algorithm solution for convenient and secure fingerprint recognition in smartphones and tablets.
The solution offers fast, accurate, and secure verification of user’s identity, generating a convenient user experience when unlocking mobile devices or authenticating to services.
Previously reported, Precise Biometrics’ algorithm solution for fingerprint recognition in mobile devices, Precise BioMatch Mobile, was deployed in a recently launched smartphone from an unnamed Chinese vendor through cooperation with Chipone.